• Small business capital gains tax concessions – supporting information

    Here's a list of the documents and information we usually need to process a private ruling request or objection about the small business capital gains tax (CGT) concessions. If you provide supporting information this will reduce the time it takes us to process your request.

    If you want to apply for a private ruling about the small business CGT concessions, you need to:

    • complete and submit the relevant private ruling application form (for tax professionals or not for tax professionals)
    • provide the supporting information listed below.

    If you want to lodge an objection about the small business CGT concessions, you need to:

    • complete and submit the relevant objection form (for taxpayers or tax professionals)
    • provide the supporting information listed below.

    Note: Check first whether your question is answered on our website.

    See also:

    Supporting information

    Note: If you've previously provided us with any of the information listed below, you don't need to provide it again.

    The information we need for a private ruling or objection about the small business CGT concessions includes:

    Active asset test

    If you want us to determine whether the assets comply with the active asset test, you should also provide:

    • the date of acquisition and disposal of the relevant CGT assets and the date of signing/making of the contract (not the date of settlement)
    • the date the CGT assets were first used in the business
    • the date your business started and/or ceased
    • the nature of the business
    • if the asset was rented to another entity  
      • details of your relationship with the other entity
      • the period it was rented for
      • a copy of the rental/lease agreement (if no written agreement exists, explain why not).
       

    Small business retirement exemption

    If you want us to determine if the small business retirement exemption applies, you should also provide:

    • your age, and that of any other relevant individuals.

    Extensions of time

    If your request concerns an extension of time for a CGT concession (for example, the small business replacement asset rollover), you should also provide:

    • why you were unable to meet any time limits
    • what efforts you made to meet those time limits.

    Next steps:

      Last modified: 11 Jul 2017QC 19046