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Small business rollover and exemption provisions


Special provisions for small business taxpayers have been part of the capital gains tax framework since the enactment of the original Part IIIA of the Income Tax Assessment Act 1936 ("the 1936 Act"), which provided in Division 19 for concessional treatment of the proceeds of sale of goodwill. Further roll-over and exemption provisions were enacted in Divisions 17A and 17B of that Part with effect from 1 July 1997, relating respectively to a rollover where small business assets were replaced, and an exemption for proceeds of sale of small business assets applied to retirement benefits.

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David Russell CTA-Life
Photo of author, David RUSSELL David was admitted as a solicitor in 1974 and was called to the Bar in 1977. He was appointed Queen’s Counsel in 1986. David has lectured and written extensively on taxation related topics in Australia and overseas. David is a Barrister, Wentworth Chambers. - Current at 01 October 2014
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This was presented at Trusts, Reform and Business Dealing .

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Individual sessions

Business Dealings

Author(s):  Jane MADDEN

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Resettlements, Trusts and Division 7A

Author(s):  Mark L ROBERTSON

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Trusts and the Ralph Proposals

Author(s):  Kate SWINDON

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Small Business Rollover and Exemption Provisions

Author(s):  David RUSSELL

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