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  • Partners in a partnership



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    Partners do not qualify as small business entities because the small business entity test is intended to apply to the partnership not to individual partners. However, if you are a partner in a partnership that is a small business entity you will meet this basic condition provided the asset is an asset of the partnership. The maximum net asset value test applies differently so that the partners in the partnership determine their eligibility for the small business CGT concessions, and not the partnership.

    Last modified: 30 Jun 2009QC 27964