SME Toolbox 1 - Small Business CGT Tips & Traps

The Small Business Capital Gains Tax Concessions are designed to provide generous tax concessions to eligible small business owners.

Changes to the legislation over time have extended the scope of the concessions, enabling more people to access the concessions.

Whilst aimed at small business owners, determining eligibility is anything but simple.

Any errors in determining eligibility can leave clients (and their advisers) with a big tax headache.