Small Business CGT Concessions: Beating the Basic Conditions

Beat the beasts that are the basic conditions in order to be eligible to apply the small business CGT concessions.

In this session, we cover:

• Summary – how do the concessions interact?​

• Overview of basic eligibility conditions​

• Affiliates and connected entities​

  • Grouping requirements​

  • Who is an affiliate (and who isn’t)?​

  • Connected entities​

  • Control test & Modified control tests for companies, partnerships and discretionary trusts​

• CGT small business entity​

  • Aggregated turnover​

• Maximum net asset value test (MNAV)​

  • Market value​

  • Offsets​

  • Alternative pathway: passively held assets (s 152-10(1A) & (1B))​

• Active asset test​

• CGT concession stakeholders and significant individuals​

  • Additional tests - Entity selling asset​

  • CGT concession stakeholder​

  • Significant individuals​

  • Small business participation percentage (SBPP)​

Date recorded: 25 November 2024