Small Business CGT Concessions - Current Issues

Published on 11 Aug 2016 | Took place at Leonda By The Yarra, Hawthorn, VIC

The ATO is increasing activity in the review and audit of CGT small business concession claims. Recent cases and ATO guidance on a number of issues have highlighted particular areas where practitioners need to be “on their game”. In particular, the $6 million maximum net asset value test continues to attract the most attention. This event reviewed some of the most recent cases and issues arising in practice, including:

• connected entities, control and the De Vuba case
• liabilities and the Bell, Byrne Hotel and Scanlon cases
• UPEs – in or out?
• how to deal with assets with a partial private use
• valuation issues, the current ATO view and the Miley and Excellar cases
• loans as assets and the Breakwell case.