Small business CGT concessions - Part 1 - Basic Rules
|Price (incl GST)|
- Expiry Date: 11 November 2022
- Duration: 90 minutes
- Views: 3 views per purchase
The small business CGT concessions are arguably some of the most generous provisions in the ITAA. The concessions are targeted to small business and consist of:
- the small business 15-year exemption;
- the small business 50 per cent reduction;
- the small business retirement exemption; and
- the small business roll-over.
Depending on which concession (or concessions) applies, a taxpayer can defer, reduce or even disregard a capital gain.
In this two-part webinar series, we will go through the core rules and then dive deeper into each of the concessions.
Part 1 | Small business CGT concessions – Basic Rules
Part 1 works through the core rules, including the:
basic eligibility requirements, namely:
- small business entity test;
- maximum net asset value test; and
- active asset test, and
- additional conditions that must be satisfied where the relevant CGT asset is a share in a company or an interest in a trust;
- additional conditions that must be satisfied where a CGT asset is held by an interposed entity;
- special rules applicable to CGT assets that are owned by partners, or by a partnership; and
- separate eligibility criteria that may need to be satisfied in order to access the various concessions.