Question: Thomas, I like your SAS Test approach to the small business Capital Gains Tax Concessions. It makes life easier for me when advising clients if the concessions apply to them.
However, I have one particular client that confuses me.
I went through your three steps, using your free poster:
Step 1 Are you Small?
Step 2 Are you Active?
Step 3 Are you Significant?
All are fine. However, I got stuck on the requirement in connection with individuals retirement in section 152-105(1)(c) of the Income Tax Assessment Act 1997.
The assets were sold over a duration of a couple of years and my client wants the 15 years exemption to apply to all of them. Is it possible?
Link to this comment:
All Comments (0)