Small business CGT concessions
Any sale or transfer of business assets is likely to trigger a CGT event and could result in tax being payable. CGT events can also be triggered when you do not expect them, for example changes to company shareholdings can change the CGT status of the company’s assets. The small business CGT concessions provide a number of scenarios where tax relief is available. However, the rules are complex and ideally advice should be sought as early as possible to ascertain if a concession is available.
We have been providing specialist advice on small business CGT concessions to clients, accountants and other lawyers since CGT was introduced in 1985. Our firm has obtained numerous favorable private binding rulings from the ATO resulting in significant tax savings and certainty for our clients.Click here to enquire about small business CGT concessions