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  Miscellaneous 2006

Practical application and implementation of CGT small business concessions

Source: TAS

Published Date: 6 Oct 2006

 

In the recent Federal Budget changes arising from the Board of Taxation’s post implementation review of the small business CGT concessions were announced, together with a new significant stakeholder test. This presentation re-examines the small business CGT concessions from a practical perspective, highlighting some of the proposed changes and considering the traps that practitioners must continue to monitor. The presentation considers:

  • can a taxpayer’s structure result in a failure to satisfy the threshold tests?
  • is there an active asset?
  • what does need to be included in the maximum net asset value test?
  • how does the connection test operate?
  • what are the compliance traps?
  • what are the implications of choosing some concessions over others?
This was also presented by Ron Jorgensen on 21 Octobe 2006 at the Tasmanian State Convention.

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Author(s)

Individual Session

CGT small business concessions - selected issues

Author(s): Ron Jorgensen CTA , Daniel Smedley CTA
Materials from this session:

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Details

  • Published By: Daniel Smedley CTA
  • Published On:6 Oct 2006
  • Took place at:Doherty St. Helens Resort

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