Small Business CGT Concessions Web Series 2025 - Session 2 Passing the Basic Conditions
Step-by-step guide to working through the small business CGT concessions. Recorded 14 March 2025
Session 2 of the Small Business CGT Concessions Web Series 2025 exploring how to pass the basic conditions
This web series is only available to purchase as a package. Please register here. Members, make sure you are logged in for the discounted member rates! |
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.
Part 2 recorded Friday, 14 March 2025
Passing the Basic Conditions
A number of basic conditions need to be satisfied in order to access the small business CGT concessions. Unless these conditions can be satisfied, clients cannot utilise the concessions to reduce their capital gains.
This is where a lot of mistakes are made and where the ATO often focuses its audit and review activities when assessing claims made under the small business CGT concessions.
The aim of this webinar is to ensure that practitioners are comfortable working through the various tests to know what information needs to be gathered and analysed.
Some of the specific issues we explore include:
- Applying the active asset test to assets that are used for mixed purposes;
- Determining whether shares in a company or units in a trust are active assets;
- The extra tests that need to be met when dealing with shares in a company or units in a trust;
- Dealing with connected entities and affiliates when applying the basic conditions;
- What assets and liabilities need to be taken into account under the $6m net asset value test;
- When the $2m turnover test can be used by a taxpayer holding passive assets; and
- The CGT concession stakeholder test and 90% test explained in plain English.
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 2025 - Session 2 Passing the Basic Conditions
Tax & Accounting
3 modules
Investment per person: $ 453.64 + GST
Team cost: $ 1,136.36 + GST
You can’t use team rate, please either signup or login to access team rates