Published on 24 Dec 10
by THE TAX INSTITUTE
All legislative references are to the Income Tax Assessment Act 1997.
In order to obtain the benefit of the small business CGT concessions, if the relevant CGT asset is either a share in a company or an interest in a trust, the taxpayer must either be(subsection 152-10(2)):
a. a CGT concession stakeholder in the object company or trust; or
b. CGT concession stakeholders in the object company or trust together have a small business participation percentage in you of at least 90%.