Small Business & CGT Concessions - Sydney

Presenter: Roger Timms - TAI's Head of Tax & Superannuation

Venue: The Grace Hotel, 77 York Street, Sydney, NSW 2000
Date: Thursday 30 August 2012
Time: 9am - 12.30pm
3.5 cpe/cpd hours

The workshop will cover:

• How the concessions might eliminate 100% of an otherwise assessable capital gain
• The 'basic conditions' to be satisfied - Division 152 ITAA1997
  • maximum net asset test: clarification from the Federal Court as to the liabilities which can be included
  • small business entity test: how is 'turnover' determined?
  • when is an entity 'connected with' or an 'affiliate' of a taxpayer and what are the implications?
  • when is an asset 'active' - how can an asset which generates only rental income be considered an active asset?
• The importance of the 'significant individual' and 'CGT concession stakeholder' tests
• How the concessions can be accessed when the capital gain arises from the disposal of shares or units
• How the concessions can be used to enable an additional $1,205,000 to be contributed to superannuation without breaching contribution caps
• Find out why the 15 year exemption is the most advantageous of the concessions and how access can be lost as a result of utilising the CGT rollover provisions
• Find out whether a taxpayer can utilise the retirement exemption multiple times
• Understand the scope for the concessions to be available to a deceased estate and the beneficiaries of the estate
• Supplemented by a comprehensive case study!