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Small business CGT concessions: changes that matter paper

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.

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PKF

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