Unravelling the enigma: Cracking the small business CGT concessions code
Source: Online
Published Date: 9 Jun 2023
The small business CGT concessions can seem like a riddle, wrapped in a mystery. This session addresses some practical problems that arise in practice when applying the concessions, provide tips on how to deal with them, and help you crack the code. Topics covered include:
- Active asset issues
- Is a business being carried on?
- For land, must the whole of the land be active?
- Partnership issues
- General law partnership versus tax law partnership
- Identifying the asset that is being sold – is it an “interest in an asset of a partnership”
- Replacement asset issues
- What are the timing rules for contributions to super when CGT event J5 or J6 occurs?
- Does CGT event J2 occur if the owner of the replacement asset dies? Can section 152-80 offer relief?
- Other discrete issues
- How do the CGT look-through earn-out rules affect the small business CGT concessions; and
- Is liquidating a company to distribute a 152-C amount always a good option.
Individual Session
Details
- Published By: Edward Hennebry
- Published On:9 Jun 2023
- Took place at:Online
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
Share this page