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Issues that arise under small business CGT concessions

Published on 17 May 02 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

This seminar paper discusses the disposal of interests in trusts and companies, the $5 threshold test and what is taken into account and how the test applies to various structures, what is an 'active asset': problems with leased/licensed assets, when is the 'controller test' satisfied and what happens if satisfied, what is a 'replacement asset' and how do you satisfy the replacement rollover, order in which concessions apply, particular problems with discretionary trusts, problems with multi-tiered structures.

Author profile:

Roger Hamilton
Roger is a Barrister practising at Ground Floor Wentworth Chambers. He specialises in revenue law, particularly international tax law, as well as income tax, CGT, state duties and taxes. Roger’s experience in law has involved government, academic and private practice as a solicitor and at the Bar. Current at 30 August 2011 Click here to expand/collapse more articles by Roger HAMILTON.
 

This was presented at The Burning Issues In 2002.

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