An entity is a small business entity if it: carries on a business, and satisfies the $10 million aggregated turnover test A CGT small business entity is an entity that is a small business entity...
Small Business Entity
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CGT Articles
Share Buyback Tax
What is a share buyback? A share buyback involves a company purchasing its own shares from shareholders. The company is thereafter required to cancel those purchased shares. A share buyback is not...
Tax on Options
What is an option?The grant of an option over a specified asset essentially provides the grantee with a right to acquire an asset from the grantor (call option) or dispose of an asset to the grantor...
Taxation of Special Lease Payments
It is common for a lessor (landlord) or lessee (tenant) to make special payments to the other in respect of lease arrangements. Examples of these types of payments include: Lease surrender payments...
Small Business CGT Concessions – Disposal of Shares or Trust Interests
The topic of this article concerns a niche but very commonly questioned aspect of the the small business CGT concessions - the availability of the concessions where there is a disposal or other CGT...
Small Business Restructure Rollover
It is very common for a small business to restructure to facilitate growth or adapt to commercial needs. By ‘restructure’ we refer to the process of changing the legal structure used to operate a...
Buy Sell Agreement – CGT Implications
Owners of a business (including family businesses) can plan for the proper succession of their business on the death or disablement of an owner or controller by entering into “buy/sell” agreements....
Property Development – CGT or Income Tax?
It’s not uncommon for landowners of decent sized blocks to release their land’s potential by subdividing and selling the ‘back yard’ or completely redeveloping land they own. Upon sale, there are a...
CGT Events
IN THIS ARTICLE What is a CGT event? Sale or disposal of asset Loss, theft or destruction of asset All CGT events What is a CGT event? When you sell an asset that is subject to capital gains tax...
Small Business Entity
An entity is a small business entity if it: carries on a business, and satisfies the $10 million aggregated turnover test A CGT small business entity is an entity that is a small business entity that also satisfies an aggregated turnover test of $2 million TR 2019/1...
Share Buyback Tax
What is a share buyback? A share buyback involves a company purchasing its own shares from shareholders. The company is thereafter required to cancel those purchased shares. A share buyback is not the same as the redemption of shares whereby the company redeems shares...
Tax on Options
What is an option?The grant of an option over a specified asset essentially provides the grantee with a right to acquire an asset from the grantor (call option) or dispose of an asset to the grantor (put option) at a specified future time and at a specified price (the...
Taxation of Special Lease Payments
It is common for a lessor (landlord) or lessee (tenant) to make special payments to the other in respect of lease arrangements. Examples of these types of payments include: Lease surrender payments Lease incentive payments Lease variation payments Lease premium...
Small Business CGT Concessions – Disposal of Shares or Trust Interests
The topic of this article concerns a niche but very commonly questioned aspect of the the small business CGT concessions - the availability of the concessions where there is a disposal or other CGT event over shares in a company or interests in a trust. This article...
Small Business Restructure Rollover
It is very common for a small business to restructure to facilitate growth or adapt to commercial needs. By ‘restructure’ we refer to the process of changing the legal structure used to operate a business. Legal structures include the following: Sole Trader...
Buy Sell Agreement – CGT Implications
Owners of a business (including family businesses) can plan for the proper succession of their business on the death or disablement of an owner or controller by entering into “buy/sell” agreements. This typically involves granting call and put options to each other...
Property Development – CGT or Income Tax?
It’s not uncommon for landowners of decent sized blocks to release their land’s potential by subdividing and selling the ‘back yard’ or completely redeveloping land they own. Upon sale, there are a number of factors that determine whether the proceeds are assessed as...
CGT Events
IN THIS ARTICLE What is a CGT event? Sale or disposal of asset Loss, theft or destruction of asset All CGT events What is a CGT event? When you sell an asset that is subject to capital gains tax (CGT), it is called a CGT event. This is the point at which you make a...
Deceased estates and CGT: disposal of dwelling
The ATO has recently updated its practical compliance guideline on how the CGT main residence exemption may apply in cases where a dwelling is disposed either in the capacity of an individual beneficiary or a trustee of a deceased estate. Generally, CGT on disposal of...