The capital gains tax (CGT) small business concessions in Australia refer to a set of tax benefits and reductions available to eligible small businesses when they sell or dispose of certain assets. These concessions aim to provide financial relief and incentives for small business owners. The key CGT concessions for Read more…
It is becoming rare to find a pre-CGT reserve in a company that warrants liquidating a company to extract the funds in a tax efficient manner. However with the introduction of the small business CGT concessions (Div 152) a members voluntary liquidation may enable shareholders to extract funds with a Read more…
We recently received the following question and scenario: I have just signed the sales contract on 31st May 2021, however the purchaser has requested delayed settlement until 1 December 2022, with standard terms 10% on exchange and the balance on settlement? The taxable gain is significant, when do I include Read more…