Small business CGT relief and related party transactions paper

Published on 29 Aug 13 by NATIONAL DIVISION, THE TAX INSTITUTE

This paper covers:

Small Business CGT Relief

• the main CGT relief and the interface with super, eg the CGT cap amountrollovers to super
• can a taxpayer obtain CGT relief on an in specie asset transfer to super?
• are there any differences for in specie transfers under the 15 year rule compared to the retirement relief?
• what are the planning tips and traps that advisers must watch out for?

Related Party Transactions

• the new rules for related party acquisitions and disposals
• what are the quirks with the new rules and who qualifies as an independent valuer?
• can listed securities be transferred off market as well as on market to minimise brokerage and transfer costs?
• how do the new rules apply to private companies and non-geared unit trusts which may hold real property?

Author profiles

Daniel Butler CTA

Dan is one of Australia's leading SMSF lawyers and has worked predominantly in the SMSF, tax and related fields for over 30 years. He is a regular presenter on SMSF topics and has published extensively in professional journals including contributing a monthly article on SMSFs to the Taxation in Australia and other media. Dan is a member of the ATO's Superannuation Industry Relationship Network (SIRN), the Chair of The Tax Institute's National Superannuation Committee, a member of the Law Institute of Victoria's Tax Committee, and is involved with a number of other tax and SMSF committees. Dan presents on the subject Taxation of Superannuation at the University of Melbourne's Master of Laws/Tax program. Dan is also a CTA and a Specialist SMSF Advisor. - Current at 30 August 2017

More by Daniel BUTLER

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• Superannuation: Understanding ECPI in view of super reforms - 01-June-2017
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• Superannuation: Lump sum payment arising from a partial commutation - 01-May-2017
• Superannuation: What ATO publications can be relied on? - 01-April-2017
• Superannuation: TRIS strategies after 1 July 2017 - 01-March-2017
• Superannuation: Transitional CGT relief for pension and TRIS assets for FY2017 - 01-February-2017
• Superannuation: ATO’s revised view on LRBAs and the NALI risk - 01-December-2016
• ATO reconsiders LRBAs and the NALI risk - 15-November-2016
• Superannuation: The $1.6m transfer balance cap explained - 01-November-2016
• Revised contribution proposals paper - 20-October-2016
• The $1.6m transfer balance cap explained - 11-October-2016
• Superannuation: Accountants and the new AFSL regime - 01-October-2016
• $500K lifetime contribution cap: urgent fix needed! - 15-September-2016
• Superannuation: Automatically reversionary pensions and super reform - 01-September-2016
• Automatically reversionary pensions and super reform - 31-August-2016
• Proposed superannuation reforms - July 2016 - 04-August-2016
• Superannuation: Proposed superannuation reforms - July 2016 - 01-August-2016
• The new $500,000-lifetime contribution cap - 12-July-2016
• Superannuation: $1.6m balance cap examined - More tax on death benefits - 01-July-2016
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• Superannuation: New $500,000 lifetime cap is bad law - 01-June-2016
• The advantages of conditional membership in an SMSF - 16-May-2016
• Superannuation: Changing SMSF trustees - Tips and traps - 01-May-2016
• Superannuation: The advantages of conditional membership in an SMSF - 01-April-2016
• Superannuation: Transferring foreign super fund amounts to an Australian resident - 01-March-2016
• Superannuation: Reconsidering incorporated contractors in an SG context - 01-February-2016
• Superannuation:SMSFs investing via unit trusts - 01-December-2015
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• Superannuation: What wins out - an ARP or a BDBN? - 01-September-2015
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• Can an adult child be a tax dependant - ATO ID 2014/22 says yes. - 02-July-2015
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• Superannuation: Another BDBN fails due to poor SMSF documents - 01-May-2015
• Superannuation: Temporary incapacity can provide welcome relief - 01-April-2015
• Superannuation: Paying a pension in kind using the partial commutation strategy - 01-March-2015
• Superannuation: SMSF borrowing - 01-February-2015
• Superannuation: SMSF succession strategies - 01-December-2014
• LRBAs and related party leases: what you need to know. - 07-November-2014
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• LRBAs and related party leases: what you need to know - 07-October-2014
• Superannuation: ID 2014/23 and loans to trusts - 01-October-2014
• Superannuation: LRBAs and related party leases: What you need to know - 01-September-2014
• TD 2014/7 - segregated bank accounts are now made easy, so why have unsegregated assets? The simple answer! - 19-August-2014
• SMSF buying overseas property - tips and traps - 19-August-2014
• Superannuation: SMSFs buying overseas property – Tips and traps - 01-August-2014
• Money on the table for defective ATO administration - 15-July-2014
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• Superannuation: Non-arm’s length SMSF loans = huge tax bill! - 01-June-2014
• Non-arm's length SMSF loans = huge tax bill! - 26-May-2014
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• Superannuation: TR 2010/1: Did the ATO get it right? - 01-April-2014
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• TR 2013/D7 – Apportioning SMSF expenses - 01-March-2014
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• Superannuation: SMSF succession planning - 01-August-2011
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• Planning and structuring pensions. - 04-July-2011
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• PSI and Superannuation - 01-September-2001
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• New investment rules - 09-June-1999
• Superannuation workshop - 09-June-1999
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• Bad medicine - 01-July-1998
• D.I.Y. super funds and trusts - 04-June-1998
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• Investments - Lawyers view - 10-April-1997
• Small fund (Session two)| Large fund (Session two) : Superannuation Complaints Tribunal - 17-April-1996
• Salary packaging & super planning (Session three) - 02-April-1996
• Superannuation - contributions, benefits and latest tax planning strategies - 08-March-1996
• Taxation of deceased estates ATO perspective and administration.| Estate Planning Consideration.| Planning for deceased estates.| Report of ATO views and unresolved issues. - 21-September-1993

Click here to expand/collapse more articles by Daniel BUTLER.

David Oon

David is a Consultant with DBA Lawyers. - Current at 30 August 2017

More by David Oon

• Is maintaining a second SMSF a Pt IVA risk? - 01-October-2017
• Limited recourse borrowing arrangements — one trustee for multiple bare trusts - 11-September-2017
• The new age TRIS – tips and traps - 01-September-2017
• APRA confirms retirement for members who reach 60 and cease one of two jobs - 24-August-2017
• Insurance traps for SMSF members - 12-April-2016
• Good news for SMSFs and bankruptcy comes with a caution - 05-May-2015
• Problem SMSFs - reasons to help the taxman do his job? - 31-March-2015
• Superannuation: How to deduct superannuation contributions by passive investment trusts - 01-November-2013
• What's hot in super paper - 10-October-2013
• Can the ATO access a taxpayer's superannuation when bankruptcy looms? - 09-September-2013
• Superannuation: Can the ATO access a taxpayer’s superannuation when bankruptcy looms? - 01-August-2013
• Tax education: What happens when SMSF trustees don’t agree? - 01-March-2013
• Superannuation: Sheltering in Bornstein’s “perfect storm”: Excess contributions tax crisis averted - 01-September-2012
• Sheltering in Bornstein's "perfect storm" - excess contributions tax crisis averted - 15-August-2012
• Superannuation: When is a grandchild financially dependent on a grandparent? - 01-July-2012

Click here to expand/collapse more articles by David Oon.