Advanced guide to capital gains tax concessions for small business

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More information

For CGT events which happened in earlier income years, see:

• Advanced guide to capital gains tax concessions for small business 2010-11
• Advanced guide to capital gains tax concessions for small business 2009-10
• Advanced guide to capital gains tax concessions for small business 2008-09
• Advanced guide to capital gains tax concessions for small business 2007-08
• Advanced guide to capital gains tax concessions for small business 2006-07
• Advanced guide to capital gains tax concessions for small business 2005-06.

For more general information about the capital gains tax concessions for small business 2011-12, see: Guide to capital gains tax concessions for small business 2011-12 .

For more information about capital gains tax in general, see Guide to capital gains tax 2011-12 (NAT 4151).

The following documents might also help you:

• Division 115 of the Income Tax Assessment Act 1997
• Guide to depreciating assets 2008-09 (NAT 1996)
• Using your home to produce income (NAT 10255)
• Taxation Determination TD 2007/14 Income tax: capital gains: small business concessions: what 'liabilities' are included in the calculation of the 'net value of the CGT assets' of an entity in the context of subsection 152-20(1) of the Income Tax Assessment Act 1997?
• Taxation Determination TD 2006/65 Income tax: capital gains: small business concessions: can a share in a company or an interest in a trust qualify as an active asset under subsection 152-40(3) of the Income Tax Assessment Act 1997 if the company or trust owns interests in another entity that satisfies the '80% test'?
• Taxation Determination TD 2006/63 Income tax: capital gains: is a CGT asset that is leased by a taxpayer to a connected entity for use in the connected entity's business an active asset under section 152-40 of the Income Tax Assessment Act 1997?
• Taxation Determination TD 2006/78 Income tax: capital gains: are there any circumstances in which the premises used in a business of providing accommodation for reward may satisfy the active asset test in section 152-35 of the Income Tax Assessment Act 1997 notwithstanding the exclusion in paragraph 152-40(4)(e) of the Income Tax Assessment Act 1997 for assets whose main use is to derive rent?
• Taxation Determination TD 2006/71 Income tax: capital gains: small business concessions: is the part of a payment which is a small business 50% reduction amount a non-assessable part under CGT event E4 in section 104-70 of the Income Tax Assessment Act 1997?

You could also discuss your capital gains tax situation with your tax adviser.

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Last Modified: June 2012

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ATO references:
NO NAT 3359