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