Published on 27 Feb 07
by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA
This paper covers the improvements to the Small Business CGT Concessions including:
- replacing the current controlling individual 50% test with a new significant individual 20% test that can be satisfied either directly or indirectly through one or more interposed entities
- simplifying the active asset test
- improving the $5M net asset test
- clarifying the application of the concessions in the event of death
- improving access to the specific concessions.
Current at 17 April 2007
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