Published on 01 Aug 14
by "THE TAX SPECIALIST" JOURNAL ARTICLE
Tax advantages in relation to retirement funding for asset-owning taxpayers are exceedingly generous when compared to tax concessions available to employee taxpayers. This article examines equity concerns in relation to the concessions available to small business owners including the requirements to be satisfied for the basic CGT “gateway” conditions, the 15-year exemption, small business 50% reduction and the small business retirement exemption. It then briefly considers the additional flexibility provided by the small business roll-over.
Finally, the article moves to analysis of the circumscribed retirement funding concessions available for employees arguing that, although the two positions are not necessarily separate and distinct, business owners are preferred by the tax system for accumulation of wealth directed to retirement funding.
Frederick is the Principal at FM Mahar & Associates.
Current at 1 April 2015 Current at 23 June 2015
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