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Small Business CGT Concessions

Recorded 13 August 2024. A deep dive with a super twist

Presented by Accurium

Recorded 13 August 2024

The CGT Small Business concessions were introduced way back in 1999 with one of the reasons for their introduction being to give small business operators greater access to additional funds for their retirement or to use to grow their businesses. When introduced there were (and still are) four principal CGT concessions for small businesses in addition to the general CGT discount. Since 1999 there have been numerous changes to the eligibility and operation of the rules and whilst they can provide significant tax concessions, they can be complex and challenging to apply.

In this special 3-hour workshop, we will break down the current rules so that you understand how they operate, which taxpayers are eligible and the strategies to maximum their application. The workshop will be conducted in three parts:

Part 1: The basic rules and conditions for applying the CGT Small Business concessions.
Part 2: When things get complicated: a consideration of the tips and traps of the CGT Small Business concessions.
Part 3: Interaction of the CGT Small Business concessions with superannuation.

Parts 1 and 2 will be presented by Lee-Ann Hayes, Head of Education (Tax) and Part 3 by Mark Ellem, Head of Education (SMSF).

Total 3 CPD Hours

Learning outcomes

Upon completion of this training, you will be able to:

Understand the four CGT small business concessions and the basic conditions to satisfy to be eligible for each type of taxpayer.
Explain the specific criteria for eligibility for each of the four CGT small business concessions.
Identify the critical issues when applying each of the four CGT small business concessions.
Explain the interaction of the CGT small business concessions with the superannuation rules.

Lee-Ann Hayes

Head of Tax Education, TaxBanter

Lee-Ann is a respected tax professional with 25 years’ experience in Australian taxation law. Her varied roles include training, content creation and advice, giving her extensive practical experience in the daily tax issues faced by practitioners.

Lee-Ann’s taxation journey began at the Australian Taxation Office where she held various technical and education positions. From there Lee-Ann has worked in both public practice and for several national training organisations. She has extensive experience in developing and delivering tax education to a wide and varied audience, including graduate accountants, big four accounting firms and professional associations.

Renowned for her enthusiastic, approachable and engaging presentation style, Lee-Ann has a strong practical focus, ensuring effective learning outcomes are always achieved.

Mark Ellem

Head of Education, Accurium

Mark is a popular, experienced and highly sought after presenter who is passionate about educating accountants and SMSF practitioners about SMSFs and strategies to make SMSFs a successful part of their business.

He has extensive experience in Self-Managed Superannuation Funds (SMSFs), Pension Funds, Income Tax and Financial Advisory. He is a Fellow of the CPA, IPA and SMSF Association, and received the 2018 SMSF Association CEO award in February 2019 for his contribution to the association and was in the inaugural group of association members to advance to the status of Fellow in February 2020.

Mark has spent over 30 years in accounting practices and SMSF administration companies, including running his own accountancy practice and SMSF administration and compliance advice company for ten years.