Small business CGT concessions - Part 1 - Basic Rules

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Recording

  • Expiry Date: 11 November 2022
  • Duration: 90 minutes
  • Views: 3 views per purchase

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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.

This session is part of the following series

Small business CGT concessions - Part 1 + Part 2

Presenters

Leanne Saunders Leanne Saunders
Tax Trainer
TaxBanter

Lee-Ann Hayes Lee-Ann Hayes
Senior Tax Trainer
TaxBanter

Michael Bode Michael Bode
Senior Tax Trainer
TaxBanter