Published on 23 Nov 07
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
This paper provides an overview of the changes to the CGT Small Business Tax Concessions including:
- significant individual test
- maximum net asset value
- active asset test
- deceased estates and the concessions
- 15-year exemption and retirement exemption
- $2 million turnover threshold.
It also looked at the issues and opportunities that apply from 1 July 2007 as a result of these changes.
Katherine Chmielewski FTIA is an Associate at Cleland McFarlane Selth providing accounting, taxation and Business Services
to a variety of clients operating in a diverse range of industries including manufacturing and retail selling. Her area of expertise
is taxation advice and planning for small to medium clients. Katherine is a regular presenter for the Taxation Institute.
Current at 10 February 2009 Current at 14 May 2009
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