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Small business CGT concessions on the sale of an investment property?

The ATO has issued a draft taxation determination reminding taxpayers that assets used by companies to mainly derive rent can’t access the small business CGT concessions.

The recent release of Taxation Ruling TR 2019/1 Income tax: when does a company carry on a business? (TR 2019/1) sets a very low threshold for when a company is considered to be carrying on a business. This may leave some thinking that if the company carries on a rental property business an investment property may be an active asset and the small business capital gains tax (SB CGT) concessions may be able to be accessed.Perhaps pre-empting the possibility of an increase in the number of compa...

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Authors: Raffi Tenenbaum

Published Date: 26 April 2019

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