Strategic CGT Solutions: Unveiling Small Business Concessions

SBCGT CONCESSIONS ARTICLES

Strategic CGT Solutions: Unveiling Small Business Concessions

Strategic CGT Solutions: Unveiling Small Business Concessions

As a small business owner in Australia, the prospect of capital gains tax (CGT) can loom large, casting a shadow on your entrepreneurial spirit. But fear not! The Australian tax system offers a treasure trove of concessions specifically designed to support small businesses and ease the sting of CGT. This blog is your map to […]

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Estate & Succession Planning: A Roadmap for Tax Efficiency

Estate and succession planning are essential aspects of managing your financial legacy, ensuring that your wealth is transferred efficiently to the next generation while minimizing the burden of taxes. This comprehensive roadmap for tax efficiency will guide you through the complexities of estate and succession planning, helping you make informed decisions to protect your assets

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SBCGT: What is an active asset?

Introduction One of the key basic conditions to access the small business CGT (SBCGT) concessions is that the relevant CGT asset subject to the particular CGT event (generally CGT event A1 on disposal) satisfies the active asset test. What is the active asset test?                                                                                                                                                   The active asset test requires that the relevant CGT asset was

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SBCGT active asset reduction: getting tax sheltered amounts out of a company

Introduction Companies, like other entities, are able to access the small business CGT concessions, subject to meeting the relevant conditions. Where the basic conditions are met, a company can apply the SBCGT active asset reduction (Active Asset Reduction), meaning: The first half of the capital gain is tax-free to the company (Tax-Sheltered Amount), and only the

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SBCGT and discretionary trusts:

Introduction The basic conditions for small business CGT concessions (SBCGT) relief require that certain conditions are met ‘just before the relevant CGT event, that is, it is a snapshot test at that time, including: the maximum net asset value test; and the significant individual test. The problem Given the ‘just before’ requirement above, a difficulty

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