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Small business entities and capital gains tax paper


Changes to the CGT small business concessions, together with the new definition of small business entity, have made it possible for a larger number of businesses to access tax free capital gains. This paper includes:

  • when will a business with net assets of more than $6 million be able to
  • access the CGT small business concessions?
  • why you no longer need to have an individual with direct ownership of an entity to meet the controlling individual test and to access the retirement concession
  • how some of the previous disadvantages of two families in business owning units in unit trusts through their own discretionary trusts have been removed
  • when and why would you use a partnership of discretionary trusts to get greater access to the concessions
  • keeping the commercial premises as a rental property after all the active business assets have been sold and still being able to access the concessions when the property is sold at a later date
  • how much of the capital gain, or the proceeds, can you roll into Superannuation after 1 July 2007?

Author profile

Jo-anne Hotston CTA
Jo-anne is a director of TaxBytes, a Knowledge Shop Company, which is a specialised in house tax training business. She is a Fellow of the Institute of Chartered Accountants and a Charted Tax Adviser of The Tax Institute and holds a Masters in Taxation from the University of Sydney. Jo-anne has been providing tax training to accounting and legal firms since 1994 from first tier firms down to smaller firms. She provides monthly tax training to a number of accounting firms throughout Australia. She has had extensive experience as a presenter in taxation matters and has been a regular presenter for the ICAA and TTI. - Current at 10 January 2019
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