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 is a Senior 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.
- Current at
28 March 2012