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Small business CGT concessions: They still are not simple to apply presentation

Published on 28 Jul 09 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

This presentation addresses what has recently changed and what you need to consider when structuring for and trying to access the concessions, including that:

  • rollovers to superannuation are now available after the 2-year rollover concession
  • your spouse is not usually your affiliate - but for some purposes is (this is relevant to the active asset and other threshold tests)
  • you cannot carry on a business as a partner and so be a small business entity, but you may pass the $6 million test
  • the rules dealing with liabilities relating to assets have been fixed.

Author profile:

Andrew Noolan CTA
Andrew is a Partner in the Sydney law firm Brown Wright Stein Lawyers. His clients are accountants and lawyers in public practice that require advice on tax issues impacting on their clients. Andrew specialises in tax issues common to the SME and high-wealth individual sectors. Current at 09 February 2016 Click here to expand/collapse more articles by Andrew NOOLAN.
 
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