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Small business concessions


Division 152 of the Income Tax Assessment Act 1997 (Cth) provides a range of capital gains tax (CGT) concessions for small business taxpayers. It is arguably one of the most complex Divisions in the tax legislation, and has been frequently amended. It has generated a number of court cases, and continues to be the focus of Australian Taxation Office reviews and audits. This article covers the key areas where uncertainties and challenges arise for taxpayers in the context of the CGT small business concessions.

The article discusses what a liability is for the purposes of the concessions. Recent amendments to the concessions are assessed to determine whether the amendments have achieved their aims. The interaction of CGT small business concessions with proposed changes to the tax treatment of earnouts is discussed, along with the implications of incorporating a partnership and the determination of the market value of CGT assets.

Author profiles

Anna Berryman CTA
Anna is a Chartered Accountant and Manager in the BDO Corporate & International Tax division in Brisbane. Her expertise includes the management and delivery of all aspects of corporate tax compliance and consulting in areas including tax planning and structuring, international tax and capital gains tax including small business capital gains tax concessions. - Current at 07 November 2013
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Angela Hicks CTA
Angie is a Chartered Accountant and a Tax Partner of BDO in Brisbane. Angie helps large private and small-to-medium public enterprises navigate complex tax regimes to provide practical and commercial business solutions. Her expertise includes domestic and international corporate tax, including tax planning and structuring, tax consolidation, transaction advice and support, tax risk management, CGT planning and advisory, and cross-border transactions (inbound and outbound). - Current at 29 November 2017
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