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  • Special Tax Topic 2020: Capital gains tax (CGT): Small business entity (SBE) concessions - Part 1: The basic conditions (Nov 2020, theory and case study)

Special Tax Topic 2020: Capital gains tax (CGT): Small business entity (SBE) concessions - Part 1: The basic conditions (Nov 2020, theory and case study)


Small businesses may be able to benefit from the CGT concessions contained in Division 152. To access the concessions, the taxpayer must first satisfy the basic conditions for relief. Some of the concessions also have additional specific conditions that must be satisfied.

This is a 2-part series and focuses on the basic conditions for relief.


Learning Outcomes

On successful completion of this topic, participants should be able to:

  • Determine the core eligibility conditions for the SBCGT concessions
  • Determine if an asset satisfies the active asset requirement
  • Apply the net asset value test and SBE turnover test
  • Apply the additional tests where shares are sold

  • Benefits

    This session will help you to keep up-to-date with this ever-changing and challenging area of the tax law.

    Bruce Thomas

    Senior Tax and Superannuation Trainer

    Bruce has written and presented training on a wide range of topics, including the tax aspects of real estatetransactions, fringe benefits tax (FBT) and salary packaging. Bruce was previously a tax manager with William Buck Chartered Accountants where he advised clients on the application of the goods and services tax, FBT and other government charges. He workedfor the Australian Taxation Office for 17 years, including as a senior officer dealing with technical issues involving the GST.


    James McPhedran

    Senior Tax and Superannuation Trainer

    James has 18 years’ experience in the industry, including roles at the Big Four accounting firms and advisory roles at mid-tier firms. He has been an educator with Chartered Accountants ANZ for 9 years. His advanced knowledge of taxation and superannuation has allowed him to focus on small to medium enterprises and high net worth individuals. James holds a bachelor’s degree in law and economics from the University of Queensland and a Masters of Taxation from the University of Sydney.


    EVENT DETAILS


    Topic: Financial Advisory and Superannuation, Tax

    Sub-Topic: Business Tax, Employment Taxes - PAYE, PAYG & FBT, GST, Income Tax (inc CGT), Insolvency, International Tax, Self-Managed Superannuation Funds, State/Territory Taxes, Tax Administration

    Format: Recorded Webinar

    Proficiency Level: Foundation, Intermediate

    CPD: Upto 3 hours