Small Business CGT Concessions

February 11, 2018

Published by MC Tax Advisors at February 11, 2018

Selling shares or units – the small business CGT concessions just got a whole lot more complex!

In the 2017/18 Budget the Government announced changes to the Small Business CGT Concessions and stated they would introduce an integrity rule to “prevent taxpayers from accessing these concessions for assets which are unrelated to their small business, such as by arranging their affairs so that their ownership interests in larger businesses do not count towards the tests for determining […]

February 9, 2018

Published by MC Tax Advisors at February 9, 2018

Government release Exposure Draft on changes to Small Business CGT Concessions

The Government has released the much anticipated Exposure Draft on changes to the Small Business CGT Concessions. These changes put into effect the 2017-18 Budget Announcements, and apply to CGT Events occurring on or after 1 July 2017. The Exposure Draft is extremely complex, and extends well beyond the scope of what many practitioners would have anticipated. Read MC Tax […]

February 5, 2018

Published by MC Tax Advisors at February 5, 2018

Small Business CGT concessions – Part 1 – Sale of farmland for property development

Easily the most common issue I am asked to advise on is Division 152 – the Small Business CGT concessions. This is driven by two main factors, the concessions can deliver great tax outcomes, but they are notoriously difficult to navigate. As we start 2018 we are still facing uncertainty around the changes announced in the last Budget, which are now supposedly in effect but with no […]