Changes to the CGT small business concessions, together with the new definition of small business entity, have made it possible for a larger number of businesses to access tax free capital gains. This presentation includes:
- when will a business with net assets of more than $6 million be able to
- access the CGT small business concessions?
- why you no longer need to have an individual with direct ownership of an entity to meet the controlling individual test and to access the retirement concession
- how some of the previous disadvantages of two families in business owning units in unit trusts through their own discretionary trusts have been removed
- when and why would you use a partnership of discretionary trusts to get greater access to the concessions
- keeping the commercial premises as a rental property after all the active business assets have been sold and still being able to access the concessions when the property is sold at a later date
- how much of the capital gain, or the proceeds, can you roll into Superannuation after 1 July 2007?