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  • Contents

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    What's new

    Overview

    • CGT discount may be available to some entities 
    • Small business concessions 
    • Applying capital losses 
    • Applying the discount and concessions 
    • The order in which to apply the discount and concessions 
    • Depreciating assets 
    • Choosing the small business concessions 
    • Distributions out of concession amounts - tax consequences 
    • Complying superannuation funds, ETPs and the concessions 
    • Extensions of time 

    Basic conditions for the small business CGT concessions

    • Basic conditions
    • Maximum net asset value test
    • Active asset test 
    • Additional conditions if the CGT asset is a share or trust interest 
    • CGT concession stakeholder 
    • Significant individual test 
    • The 90% test 

    Small business 15-year exemption

    • Interaction with other concessions
    • Conditions to be satisfied 
    • Consequences of applying the exemption 

    Small business 50% active asset reduction

    • Interaction with other concessions 
    • Conditions to be satisfied 
    • Consequences of applying the reduction 

    Small business retirement exemption

    • Interaction with other concessions 
    • Conditions to be satisfied 
    • Termination of employment not required 
    • Capital proceeds received in instalments 
    • Deemed dividends 
    • Receiving actual capital proceeds not required 
    • CGT retirement exemption limit 
    • Consequences of choosing the exemption 
    • Superannuation reasonable benefit limit consequences 
    • Retirement exemption ETPs must be reported for RBL purposes 

    Small business rollover

    • Interaction with other concessions 
    • Conditions to be satisfied 
    • Consequences of choosing the rollover 
    • Failure to acquire a replacement asset and make a capital improvement after a rollover 
    • Cost of replacement asset or capital expenditure incurred, or both, not sufficient to cover disregarded capital gain 
    • Realisation of the capital gain rolled-over 
    • Change in circumstances where the replacement asset is a share or trust interest 

    Death and the small business CGT concessions

    Last modified: 08 May 2009QC 19577