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FREE Small Business and CGT Concessions Webinar - Tuesday November 30, 2010
Scheduled Time: 12pm-1pm AEDT (9am-10am WST)
Presented by Roger Timms, Head of Tax & Superannuation, Taxpayers Australia Inc
Hosted by ADP

The small business CGT concessions can deliver substantial tax savings to taxpayers who sell their businesses or who merely realise one or more business assets.

In order to maximise your clients’ tax savings it is necessary to understand when the concessions are available and how they should be applied.

 

Click here to register for the webinar

Please note: Attendee numbers are limited, confirmations will be allocated
in the order they are received.

 

Webinar presentation will provide answers to key questions including:

  • Which assets and liabilities must be included for the purposes of the $6 million CGT net asset calculation
  • When access to the concessions may be available notwithstanding that the $6 million net CGT asset maximum is exceeded
  • When will an asset satisfy the ‘active asset’ test
  • In what circumstances will an asset generating a passive income stream be deemed to be active
  • The terms ‘connected entity’ and ‘affiliate’ are pivotal to the operation of the concessions, but what is the effect of the new definitions which have applied from the 2007-08 year
  • How the existence of a ‘connected entity’ or an ‘affiliate’ may in some situations either help or hinder access to the concessions
  • What is required to be a ‘CGT concession stakeholder’ and when are they necessary in order to access the concessions
  • How can eight CGT concession stakeholders share a $4 million tax-free capital gain from a single entity
  • What are the special requirements to be satisfied for the purposes of the 15 year exemption, and:

- What is the effect of a prior-year CGT rollover on the 15 year continuity of ownership
- Is it necessary to permanently retire
- Must the capital gain be paid out to CGT concession stakeholders in order to access the concession
- Could the concession be available in respect of a pre-CGT asset owned by a company

  • What are the special requirements to be satisfied for the purposes of the retirement exemption, and:

- Is any form of retirement necessary
- How many times can the exemption be accessed by a taxpayer
- Must the capital gain be paid out to CGT concession stakeholders

For more information contact Janina Braybrook on 03 9566 7012 or email janina_braybrook@au.adp.com