Division 152 presentation

Published on 21 Jul 22

Where they apply, the small business tax concessions are generous. But determining eligibility is often complex; more so now than ever with recent changes to the rules meaning extra tests that need to be met in some cases. Claims are also attracting ATO attention with justified trust programs having revealed to the ATO that some ineligible businesses have mistakenly claimed, triggering this to become a current area of ATO review focus. Against that background, in this presentation Michael addresses:

• CGT concession stakeholders
• Considerations that arise in respect of exiting stakeholders
• The use of the concession when restructuring follows a family split
• Other common traps encountered and what you can do to support claims and;
• Interaction with CGT rollovers – particularly under subdivision 126-A

Author profile

Michael Parker CTA

Michael is a Partner in the Taxation section of Hall & Wilcox Lawyers. His practice focuses on tax disputes, domestic income tax issues, including CGT and Div 7A, business sales, acquisitions and restructures and GST. Michael has extensive experience handling a broad range of taxpayer disputes, including disputes concerning the small business CGT concessions, having acted for the taxpayers in White v FCT [2009] FCA 880, White v FCT [2012] FCA 109 and Altnot v FCT [2013] AATA 140, among other cases. Michael regularly consults to the Board of Taxation and Treasury, including in respect of Div 7A, small business impediments and the small business CGT concessions. He is a regular presenter for The Tax Institute. - Current at 05 May 2022

More by Michael PARKER

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• Setting the scene paper - 16-April-2014
• A review of major tax developments in 2013 paper - 17-October-2013
• Small business CGT concessions paper - 31-October-2006
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• General tax update - 18-October-2002
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• Q & A: private company loans and Division 7A - 01-July-2002
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