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Payments made by a company or trust to an employee of an amount exempted under the retirement exemption are deemed to be payments in respect of the termination of employment of the employee. There is no need for an actual termination of employment.
Where such payments are made by a company or trust to a CGT concession stakeholder who is not an employee, the stakeholder is not required to cease any activity or office holding.
For an individual choosing the retirement exemption, there is no requirement to terminate any activity or cease their business.
Last modified: 30 Jun 2009QC 27964