Small business capital gains tax concessions

Private rulings and objections

This page lists the documents and information we usually need to process private rulings and objections.

Please send the following documents and information with your:

Disregard the documents and information on this page that you have previously provided.

Supporting document requirements

  • Details of the assets disposed of on which the small business concessions have been claimed
  • Details to demonstrate that you satisfy the maximum net asset value test (refer to the test contained in section 152-15 of the Income Tax Assessment Act 1997). You must add together the net value of assets for all of the following entities
    • you
    • entities connected with you
    • your affiliates and entities connected with your affiliates
  • If you want us to determine whether the assets comply with the active asset test, provide the following information
    • 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 reasons for that and the period it was rented for
    • a copy of the rental/lease agreement (if no written agreement exists, explain why not)
  • If the ruling involves the small business retirement exemption, and you are an individual, how old are you and other relevant individuals?
  • If you represent a company or trust, are there any CGT concession stakeholders (see section 152-15 of the Income Tax Assessment Act 1997)?
  • If your request is for an extension of time for a CGT concession to apply - for example, the small business replacement asset rollover - why were you unable to meet any time limits and what efforts did you make to meet those time limits?

More information

For more information about requesting a private ruling:

    Last modified: 08 Mar 2013QC 19046