Advanced guide to capital gains tax concessions for small business
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About this guide
This document has been archived. It is current only to 30 June 2014.
This guide applies to capital gains tax(CGT) events that happened in 2013-14 .
Do not use this guide for CGT events that happened in earlier years because the information might have changed. See More information for earlier versions of this guide.
This guide explains the CGT concessions available for small business that are contained in Division 152 of the Income Tax Assessment Act 1997 (ITAA 1997). These concessions apply to CGT events happening after 11.45am, by legal time in the Australian Capital Territory, on 21 September 1999.
This guide does not explain how the concessions apply to a consolidated group of entities.
When we say 'you' or 'your business' in this guide, we are talking about you conducting a small business as:
- an individual (such as a sole trader)
- a partner in a partnership
- a company or a trust.