Published on 27 Feb 07
by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA
This presentation 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.