Small business capital gains tax concessions – supporting information

How to lodge

To apply for a private ruling about the small business CGT concessions:

• complete and submit a private ruling application form
• provide the supporting information listed below.

To lodge an objection about the small business CGT concessions:

• complete and submit the relevant form
  • Objection form – for taxpayers
  • Objection form – for tax professionals
• provide the supporting information listed below.

Check first whether your question is answered in Capital gains tax concessions for small business.

Supporting information

Providing this information up front will reduce delays.

If you've previously given us any of the information listed below, you don't need to resend it.

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

• 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 or that you are a small business entity
• if you represent a company or trust, whether there are any CGT concession stakeholders

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.