This paper examines the capital gains tax concessions implemented in the August 1996 Budget, regarding the taxation of small businesses. Two main concessions were the CGT roll-over relief and the retirement exemption. The initial legislation in relation to these have undergone a number of changes since it was introduced. In the wake of the Ralph Review, the New Business Tax System (Capital Gains Tax) Act 1999 No. 165 1999 was introduced by Government. The paper deals with the small business concessions as set out in the Act. Where there have been significant changes made to the previous rules these are noted.
Miscellaneous
2000
Small business capital gains tax concessions and the simplified tax system
Source: TAS
Published Date: 28 Feb 2000
Individual Session
Small business CGT concessions and the simplified tax system
Author(s):
Geoff Burgess
,
Matthew Burgess CTA
,
Peter J Mcknoulty CTA
Materials from this
session:
Details
- Published By: Peter J Mcknoulty CTA, Matthew Burgess CTA
- Published On:28 Feb 2000
- Took place at:Hobart Vista Hotel
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Tags
Miscellaneous
2000
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