Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-3
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CAPITAL GAINS AND LOSSES: SPECIAL TOPICS
Division 152
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Small business relief
Subdivision 152-C
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Small business 50% reduction
SECTION 152-205
You get the small business 50% reduction
152-205(1)
The amount of a * capital gain remaining after applying step 5 of the method statement in subsection 102-5(1) is reduced by 50%, if the basic conditions in Subdivision 152-A are satisfied for the gain.
152-205(2)
In working out for the purposes of subsection (1) whether the basic conditions in Subdivision 152-A are satisfied, disregard paragraph 152-10(1AA)(b) .
View history note
Hide history noteThe amount of a * capital gain remaining after applying step 5 of the method statement in subsection 102-5(1) is reduced by 50%, if the basic conditions in Subdivision 152-A are satisfied for the gain.
Note:
The cost bases of CGT assets of an individual are indexed from 1 July 2027, reducing capital gains that arise after 1 July 2027. This reduction applies after indexation, allowing the indexed gain to be reduced by a further 50%.
152-205(2)
In working out for the purposes of subsection (1) whether the basic conditions in Subdivision 152-A are satisfied, disregard paragraph 152-10(1AA)(b) .
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