CGT Small Business Reliefs, 8th edition

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

Key features and benefits:

• details the legislative changes to the connected entity rules
• deals with recent legislative changes affecting the CGT concession stakeholder test
• covers the Full Federal Court’s decision in the Bell case, relevant to how the maximum net asset value test operates
• supporting case studies help you understand and apply the reliefs in practice
• tips and traps highlight strategies and pitfalls
• covers the implications of relevant court and AAT decisions
• details ATO-released information (including determinations and issues in the NTLG Losses and CGT Subcommittee meeting minutes)
• expands on various aspects of the CGT small business reliefs and their practical operation.

The annual online subscription service includes:

• 12 months of access to the online book
• interactive eLearning with reference links back to the online book (4 CPD hours).

Written by John Gaal, TaxCounsel

Also available as an online book on the Tax Knowledge eXchange

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