Small Business CGT Concessions Web Series 2024 Session 3
Recorded 1 March 2024. Applying the Concessions in Practice
A methodical & practical approach to the concessions
Common problem areas and solutions
Maximising tax effectiveness and planning
Recorded 1 March 2024
The small business CGT concessions are very generous for those who meet the relevant conditions. However, the rules can also be very complex and difficult to apply in practice and claims made under the concessions are at a high risk of being reviewed by the ATO. Also, recent changes to the rules mean that extra tests need to be satisfied to access the concessions in some cases.
This comprehensive 3-part Small Business CGT Concessions Web Series focuses on the key aspects of the small business CGT concessions in a methodical and practical way. Across the series we cover a wide range of issues including the problem areas that often prevent clients from accessing the concessions and the solutions that might make the difference, maximising the tax effectiveness of the concessions, planning opportunities for clients who are thinking of selling business assets, and preparing clients for a CGT audit.
The 3-part Small Business CGT Concessions Web Series is valuable to anyone who needs to grasp the pragmatic impact and application of the small business CGT concessions.
Total 1.25 CPD Hours
What happens after the basic conditions have been satisfied? This webinar works through the extra conditions that must be met to apply specific concessions and discusses strategies to maximise the tax outcome for clients.
The rules contain strict requirements dealing with the extraction of capital proceeds from a company or trust that has made a capital gain. We address the practical issues that need to be considered and opportunities for extracting the funds in the most tax efficient manner.
This session includes:
- How to determine whether an event happens in connection with someone's retirement for the 15 year exemption;
- What assets qualify as replacement assets under the small business rollover rules;
- Options for dealing with the tax liability that might be triggered when the small business rollover expires;
- How to extract exempt capital gains from a company or trust in a tax efficient manner;
- Strategies that can be considered when clients are approaching age 55; and
- Utilising the lifetime CGT cap within the super contribution rules.
Michael Carruthers
Tax Director, Knowledge Shop
Michael is an adviser, author, in demand presenter, mentor to Knowledge Shop’s technical team, and is well known for his capacity to translate highly technical information into tangible and useable advice for the profession. He has a knack for seeing through the complexity and helping advisers work through highly technical issues with certainty and accuracy.
Michael works with advisers every day to help them negotiate and implement the constant tide of change impacting the industry. He was a long-term member of the advisory panel for the Board of Taxation and was a member of the reference group for the Board’s review of small business concessions.
He was also an expert panel member for the Board’s review of tax impediments facing small business.
Small Business CGT Concessions Web Series 2024 Session 3
Tax & Accounting
1.25 hours | 3 modules
Investment per person:
$450.00
+ GST
Team cost:
$1,027.27
+ GST
You can’t use team rate, please either signup or login to access team rates
CPD Hours: 1.25 hrs
FS
SMSF
Tax Accounting
General