- Description
- Specifications
Tax planning relative to the sale of a business is very important. Any person contemplating the sale of their business should seek expert accounting and legal advice on the many ramifications presented by the Taxation Laws relative to the sale of a business.
The notes contained in this paper are a general guide only on this very complicated subject. It is also recommended that you read Paper 036-001 When Is The Best Time To Sell?
The paper is presented in twelve pages, under the following headings:
- Planning Is Very Important
- Varies - Depending On The Entity
- Capital Gains Tax
- Cost Basis For CGT
- Calculation Of The Capital Gain
- Small Business CGT Concessions
- Eligibility For Small Business CGT Concessions
- Fifteen Year Asset Exemption
- Controlling Individual Test
- Controlling Individual - Company
- Controlling Individual - Trust
- Controlling Individual - Discretionary Trust
- CGT Concession Stakeholder
- Spouse May Also Be A CGT Concession Stakeholder
- 50% Active Asset Reduction
- The Retirement Exemption
- Rollover Into Replacement Assets
- Small Business Capital Gains Tax Calculation Sheet
- Determination Of Sale Price
- Apportionment Of Sale Price
- Land And Buildings
- Plant And Equipment
- Consumables And Spare Parts
- Industrial Property
- Goodwill
- Trading Stock
- Sundry Debtors
- Work In Progress
- Annual Leave And Long Service Leave
- Capital Losses
- Date Of Contract