CGT Small Business Reliefs, 8th edition

Written by John Gaal, TaxCounsel

An essential resource for any practitioner advising on the CGT small business reliefs.

The CGT small business reliefs continue to be very significant in practice, with ongoing developments making it increasingly important for practitioners to have access to a reliable reference and analysis tool.

This edition covers developments that helps you understand and work with the law, and apply the reliefs in practice.

The eighth edition includes:

• the decision of the Full Federal Court in Devuba where the issue was the operation (in the particular circumstances) of the small business participation percentage definition where a dividend access share was on issue;
• the decision of the Federal Court in Breakwell which considered whether a so-called statute-barred debt was still a CGT asset for the purposes of the maximum net asset value test;
• the reversal by the Commissioner of his view that an appointor under a discretionary trust deed controlled the trust;
• the Commissioner’s views on how an unpaid present entitlement is to be taken into account when applying the maximum net asset value test; and
• the implications of the CGT “earnout” amendments.

The print and online editions incorporate changes that were known by 21 March 2016.

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