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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 an active asset for: where it was held for up to 15 years – at least half the relevant period (generally, between acquisition and disposal); and where it was held for more than

Introduction The basic conditions for small business CGT (SBCGT) relief require, among other things, that the relevant CGT asset subject to a CGT event (generally CGT event A1 on disposal of the asset), is an active asset. As to what constitutes an active asset, see our article here.  Passive assets  One of the basic conditions for SBCGT relief requires that the relevant taxpayer (i.e., the entity that triggers the CGT event) satisfies at least one of various conditions, including: it is a CGT small business entity (CGT SBE);

Introduction The basic conditions for small business CGT (SBCGT) relief are as follows: a CGT event happens to a CGT asset of yours; but for any SBCGT relief, the CGT event would have resulted in a gain; you satisfy one of various alternatives, including: you are a CGT small business entity; or you satisfy the maximum net asset value test; and the CGT asset satisfies the active asset test.  However, there are separate and additional basic conditions where the relevant CGT asset(s) are shares in a company or