This guide provides general information about the capital gains tax (CGT) concessions available for small business and is current for the 2007–08 income year.
For CGT events which occurred in the 2006–07 income year refer to the previous edition of the Guide to capital gains tax concessions for small business (NAT 8384).
The concessions may apply to CGT events happening after 11.45am, by legal time in the Australian Capital Territory, on 21 September 1999.
When we refer to 'you' or 'your business' in this guide, we are referring to you as an individual (such as a sole trader), a partner in a partnership, a company or a trust that conducts a small business.
The guide assumes you have a basic understanding of how the CGT system works. It deals with the special CGT concessions available to you as a small business, not with your personal CGT obligations.
More information
- If you need more information about capital gains tax in general, see the Guide to capital gains tax (NAT 4151).
- For a more detailed explanation of the capital gains tax concessions for small business, see the Advanced guide to capital gains tax concessions for small business 2007–08 (NAT 3359).
- You may also want to discuss your capital gains tax situation with your tax advisor.