Capital Gains Tax (CGT) 2014

The retirement savings conundrum: fortune favours the brave!

Source: The Tax Specialist Journal Article

Published Date: 1 Aug 2014

 

Tax advantages in relation to retirement funding for asset-owning taxpayers are exceedingly generous when compared to tax concessions available to employee taxpayers. This article examines equity concerns in relation to the concessions available to small business owners including the requirements to be satisfied for the basic CGT “gateway” conditions, the 15-year exemption, small business 50% reduction and the small business retirement exemption. It then briefly considers the additional flexibility provided by the small business roll-over.

Finally, the article moves to analysis of the circumscribed retirement funding concessions available for employees arguing that, although the two positions are not necessarily separate and distinct, business owners are preferred by the tax system for accumulation of wealth directed to retirement funding.

Sorry, this is subscriber only content.

To gain access to this material and much more - Subscribe Now.

(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).

Already a Subscriber? Login now

Already a Subscriber? Login now

Details

The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))

("TTI")

The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.

Tags

Capital Gains Tax (CGT) 2014

Share this page