Some entities that make a capital gain after 21st September 1999 from an asset acquired before 21st September 1999 and owned for at least twelve months may choose to index the cost base (frozen as at 30th September 1999) or apply the CGT Discount, if certain conditions are satisfied.
This paper discusses these conditions under the headings:-
- Introduction CGT Concessions
- 50% Capital Gains Tax Discount For Individuals
- Capital Losses
- Order Of Concessions
- Basic Conditions For The Small Business CGT Concessions
- Small Business Capital Gains Tax Concession
- Fifteen Year Small Business Exemption
- Maximum Net Asset Value Test
- Active Asset Test
- Additional Conditions If The CGT Asset Is A Share In A Company Or An Interest In A Trust
- CGT Concession Stakeholder
- Significant Individual Test
- The 90% Test
- The Retirement Exemption
- Rollover Into Replacement Assets
- Small Business Concession Capital Gains Tax Calculation Sheets
