• Meaning of small business CGT affiliate

    Prior to 1 July 2006

    From 1 July 2006

    From 1 July 2007

    From 1 July 2009

    Small business capital gains tax affiliate included spouse and child under 18 years, and a person who acts, or could reasonably be expected to act, in accordance with your directions or wishes or in concert with you.

    No change

    An affiliate is now an individual or company that acts, or could reasonably be expected to act, in concert with you, or in accordance with your directions or wishes, in relation to their business affairs. A spouse and child under 18 years are not automatically your affiliates. However, a spouse or child under 18 years may be taken to be an affiliate of an individual in certain circumstances.

    No change

      Last modified: 21 Jun 2016QC 21145