Capital Gains Tax (CGT) 2013

Small business concessions

Source: National

Published Date: 7 Nov 2013

 

Sorry, this is subscriber only content.

If you're not yet a subscriber, to gain access to this material and much more - Subscribe Now.

Already a Subscriber? Login now

Already a Subscriber? Login now

Accessing the small business CGT concessions remains a challenge. This paper covers the key areas where most uncertainties and challenges arise for taxpayers. In particular it focuses on:

  • what is a liability for the purposes of the small business concessions and when does a liability relate to the CGT asset?
  • various amendments have been made to overcome unintended anomalies, but have the amendments achieved their aim?
  • dividend access shares post-TA 2012/4 and TD 2013/D5 – where do the pitfalls lie?
  • how will the small business concessions interact with the proposed changes tothe taxation treatment of earnouts?
  • incorporation of partnerships – are you shooting yourself in the foot?
  • lastly, perhaps the most difficult area lies in determining the market value of CGTassets, in light of a raft of recent cases where the Commissioner has challengedthe taxpayer’s valuation of CGT assets.

Individual Session

Small business concessions

Author(s): Anna Tran CTA , Angie Hicks CTA
Materials from this session:

Details

The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))

("TTI")

The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.

Tags

Capital Gains Tax (CGT) 2013

Share this page