Advanced guide to capital gains tax concessions for small business

This version is no longer current. Please follow this link to view the current version.

  • This document has changed over time. View its history.

More information

Online

For CGT events which happened in earlier years, see:

For more general information about the capital gains tax concessions for small business 2010-11, see Guide to capital gains tax concessions for small business 2010-11 .

For more information about capital gains tax in general, see Guide to capital gains tax 2010-11 .

The following documents might also help you:

  • Division   115 of the Inc ome Tax Assessment Act   1997

     
  • Guide to depreciating assets 2010-11 (NAT   1996)

     
  • Using your home to produce income (NAT   10255)

     
  • Taxation Determination TD 2007/14 Income tax: capital gains: small business concessions: what 'liabilities' are included in the calculation of the 'net value of the CGT assets' of an entity in the context of subsection   152-20(1) of the Income Tax Assessment Act   1997?

     
  • Taxation Determination TD 2006/65 Income tax: capital gains: small business concessions: can a share in a company or an interest in a trust qualify as an active asset under subsection   152-40(3) of the Income Tax Assessment Act   1997 if the company or trust owns interests in another entity that satisfies the '80% test'?

     
  • Taxation Determination TD 2006/63 Income tax: capital gains: is a CGT asset that is leased by a taxpayer to a connected entity for use in the connected entity's business an active asset under section   152-40 of the Income Tax Assessment Act   1997?

     
  • Taxation Determination TD 2006/78 Income tax: capital gains: are there any circumstances in which the premises used in a business of providing accommodation for reward may satisfy the active asset test in section   152-35 of the Income Tax Assessment Act   1997 notwithstanding the exclusion in paragraph   152-40(4)(e) of the Income Tax Assessment Act   1997 for assets whose main use is to derive rent?

     
  • Taxation Determination TD 2006/71 Income tax: capital gains: small business concessions: is the part of a payment which is a small business   50% reduction amount a non-assessable part under CGT event E4 in section   104-70 of the Income Tax Assessment Act   1997?

You could also discuss your capital gains tax situation with your tax adviser.

Other services

If you do not speak English well and need help from us, phone the Translating and Interpreting Service on 13   14   50 .

If you are deaf or have a hearing or speech impairment, phone us through the National Relay Service   (NRS) on the numbers listed below:

  • TTY users, phone 13   36   77 and ask for the ATO number you need
  • Speak and Listen (speech-to-speech relay) users, phone 1300   555   727 and ask for the ATO number you need
  • internet relay users, connect to the NRS on www.relayservice.com.au and ask for the ATO number you need.

Our commitment to you

We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations.

If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take.

Some of the information on this website applies to a specific financial year. This is clearly marked. Make sure you have the information for the right year before making decisions based on that information.

If you feel that our information does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice.

Last Modified: Wednesday, 1 February 2012

Copyright

Commonwealth of Australia

This work is copyright. You may download, display, print and reproduce this material in unaltered form only (retaining this notice) for your personal, non-commercial use or use within your organisation. Apart from any use as permitted under the Copyright Act 1968 , all other rights are reserved.

Requests for further authorisation should be directed to the Commonwealth Copyright Administration, Copyright Law Branch, Attorney-General's Department, Robert Garran Offices, National Circuit, BARTON ACT 2600 or posted at http://www.ag.gov.au/cca .

ATO references:
NO NAT 3359

Advanced guide to capital gains tax concessions for small business
  Date: Version:
You are here 1 July 2010 Original document
  1 July 2011 Updated document
  1 July 2012 Updated document
  1 July 2013 Archived

Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).