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Capital gains tax concessions for small business

Overview

Section: 12.1

There are four capital gains tax (CGT) small business concessions available for the sale of CGT assets used in a small business. This section will cover the basic conditions which must be satisfied and how to apply the CGT small business concessions. Each concession except for the small business 50% active asset reduction has additional conditions which must be satisfied. The small business 15 year exemption and retirement exemption interact with contributions to superannuation and offer a tax effective opportunity to build retirement savings.

This technical resource is intended for the use of financial advisers only. It is current as at the date of publication but may be subject to change. This publication has been prepared without taking into account a potential investor's objectives, financial situation, needs or objectives. Before making a recommendation based on this material, you should consider its appropriateness based on the client's objectives, financial situation and needs. Rainmaker Group is not a registered tax agent under the Tax Agent Services Act 2009. Your client should refer to a registered tax agent before relying on information published herein that may impact their tax obligations, liabilities or entitlements.

Last modified: Monday, September 28, 2020