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If any of your capital gains qualify for the small business 50 per cent active asset reduction, small business roll-over relief or small business retirement exemption, apply these now. The small business 50 per cent active asset reduction applies first. You may apply the concessions to both discount capital gains and other capital gains. If both the CGT discount and the small business active asset reduction apply, the capital gain - after being reduced by any losses applied against it - is reduced by 75 per cent in total. For more information refer to the publication Capital gains tax concessions for small business.
The amount remaining after applying the small business capital gains tax concessions is your net capital gain. Write this amount at W.
The amount at W will not equal H - (G + X) if you have capital gains for which the CGT discount is chosen or you qualify for the small business capital gains tax concessions.
Last modified: 18 Sep 2009QC 18323