The small business CGT concessions can provide a source of favourable rewards for taxpayers. The many amendments to the complex legislation mean that care is needed to understand and access the available concessions. This paper uses practical examples to examine:
- timing issues: application of tests, ownership period, changing status
- retirement; tax heaven, slaying the s 109 serpent
- distributing sheltered discounts; not plain sailing
- replacement asset rollover - a two year holiday?
- planning for the concession - Part IVA may lurk.