Income tax: capital gains: small business concessions: can a share in a company or an interest in a trust qualify as an active asset under subsection 152-40(3) of the Income Tax Assessment Act 1997 if the company or trust owns interests in another entity that satisfies the '80% test'?

test' calculation to determine if the underlying interests in the entity are themselves active assets. 16. As the active asset test requires ... Subject References: active asset active asset test basic condition for relief capital gains tax CGT events CGT small business relief Legislative References

Income tax: capital gains: small business concessions: is the part of a payment which is a small business 50% reduction amount a non-assessable part under CGT event E4 in section 104-70 of the Income Tax Assessment Act 1997?

active asset owned for eight months. The trust satisfies the conditions for the small business 50% active asset reduction and the gain ... value test, the active asset test (incorporating the 80% test) and the additional basic conditions (concession stakeholder tests) in subsection

Income tax: capital gains: is a CGT asset that is leased by a taxpayer to a connected entity for use in the connected entity's business an active asset under section 152-40 of the Income Tax Assessment Act 1997?

the active asset test in section 152-35 of the ITAA 1997. The active asset test requires the relevant CGT asset ... References: active asset active asset test basic conditions for relief capital gains capital gains tax CGT assets CGT small business relief controlling

Income tax: can a company that carries on a business in a general sense as described in Taxation Ruling TR 2019/1 Income tax: when does a company carry on a business? but whose only activity is renting out an investment property claim the capital gains tax small business concessions in relation to that investment property?

The active asset test requires the relevant CGT asset to be an active asset of yours for at least [3] : • half ... the active asset test in section 152-35 is a separate consideration for the purposes of the CGT small business concessions

Income tax: capital gains: are there any circumstances in which the premises used in a business of providing accommodation for reward may satisfy the active asset test in section 152-35 of the Income Tax Assessment Act 1997 notwithstanding the exclusion in paragraph 152-40(4)(e) of the Income Tax Assessment Act 1997 for assets whose main use is to derive rent?

the active asset test in section 152-35 of the ITAA 1997. The active asset test requires the relevant CGT asset ... References: active asset active asset test basic conditions for relief capital gains capital gains tax CGT assets CGT small business relief small

Income tax: capital gains: small business concessions: can trustees or members of a complying superannuation fund 'control' the superannuation fund in the way described in section 328-125 of the Income Tax Assessment Act 1997?

active asset of the fund and the small business concessions will not be available to the trustees. 14. Likewise the assets ... Rulings/Determinations: TR 2006/10 TD 2006/79 Subject References: active asset active asset test CGT small business relief complying superannuation funds connected entity maximum

CGT - small business concessions - active asset - just before the CGT event

ATO ID 2002/629 Income Tax CGT - small business concessions - active asset - just before the CGT event FOI status: may be released This ... breeding business continues to operate from the new property. Reasons for Decision One of the requirements of the active asset test

CGT small business concessions: connected entities - indirect control - subsection 328-125(7)

sell the farm land and seek access to the small business CGT concessions in Division 152 of the ITAA 1997. Accordingly, they ... small business entity test from the 2007-08 income year for entities seeking to determine whether they are a 'small business entity

CGT small business concessions: maximum net asset value test - Australian currency

notes and coins, a CGT asset for the purposes of determining the 'net value of the CGT assets' of certain entities under ... Australian currency is a CGT asset for the purposes of determining the 'net value of the CGT assets' of certain entities under

CGT small business concessions: basic conditions - CGT event happening in relation to a CGT asset - forfeited deposit

Income Tax CGT small business concessions: basic conditions - CGT event happening in relation to a CGT asset - forfeited deposit FOI status: may ... basic conditions for small business CGT relief is that a CGT event happens in relation to a CGT asset of yours

CGT small business concessions: active assets - application of the 80% test to trust accounts

ATO ID 2003/714 Income Tax CGT small business concessions: active assets - application of the 80% test to trust accounts FOI status: may ... paragraph 152-40(3)(b) Keywords Active asset test Basic conditions for relief CGT small business relief Trust accounts Siebel/TDMS Reference Number

CGT small business concessions: retirement - choice made by beneficiary of deceased estate

deceased's business assets by the estate's executor, if the beneficiary is absolutely entitled to the business assets as against the ... choose the small business retirement exemption in respect of any capital gain made on the sale of the business assets. Reasons for

CGT small business concessions: active asset - joint ownership of a share

ITAA 1997 provides that an asset satisfies the active asset test if it was an active asset at a particular time and ... Keywords Active asset Active asset test Basic conditions for relief Capital gains tax CGT assets CGT small business relief Controlling individual Controlling

CGT small business concessions: basic conditions - CGT event happening in relation to a CGT asset - granting of a lease

satisfied. Note: It is the underlying asset premises that must satisfy the active asset test in terms of paragraph ... 2003/346 Keywords Active asset Basic conditions for relief Capital gains tax CGT events F1-F5 - leases CGT small business relief Siebel/TDMS Reference

CGT Small Business Concessions: maximum net asset value test - assets used solely for personal use and enjoyment - personal bank account

ATO ID 2009/33 Income Tax CGT Small Business Concessions: maximum net asset value test - assets used solely for personal use and enjoyment ... qualify for the small business CGT concessions, the company must satisfy the maximum net asset value test in section

CGT small business concessions: active asset test - company liquidations and cancellation of shares - relevant business ceases

Interpretative Decision ATO ID 2010/90 Income Tax CGT small business concessions: active asset test - company liquidations and cancellation of shares - relevant business ... small business CGT concessions in Division 152 of the ITAA 1997 to apply, the CGT asset must satisfy the active asset test

CGT small business concessions: basic conditions - CGT event happening in relation to a CGT asset - granting an option

the ITAA 1997 requires that the CGT asset satisfies the active asset test. With respect to the first condition it is considered ... Keywords Active asset Basic conditions for relief Capital gains tax CGT events D1-D3 - bringing into existence a CGT asset CGT event

Income tax: capital gains: small business concessions: can a share in a company or an interest in a trust qualify as an active asset under subsection 152-40(3) of the Income Tax Assessment Act 1997 if the company or trust owns interests in another entity that satisfies the '80% test'?

test' calculation to determine if the underlying interests in the entity are themselves active assets. 14. As the active asset test requires ... Subject References: active asset active asset test basic condition for relief capital gains tax CGT events CGT small business relief Legislative References

Income tax: capital gains: small business concessions: is an entity that has a 'controller' under section 152-30 of the Income Tax Assessment Act 1997 necessarily a small business CGT affiliate under paragraph 152-25(1)(b) of the Income Tax Assessment Act 1997 of that 'controller'?

the ITAA 1997); and • the active asset test - the relevant asset must be an active asset of the taxpayer at certain times ... References: active asset active asset test basic conditions for relief capital gains capital gains tax CGT assets CGT small business relief maximum

Income tax: capital gains: is a CGT asset that is leased by a taxpayer to a connected entity for use in the connected entity's business an active asset under section 152-40 of the Income Tax Assessment Act 1997 ?

the active asset test in section 152-35 of the ITAA 1997. 6. A CGT asset is an active asset ... References: active asset active asset test basic conditions for relief capital gains capital gains tax CGT assets CGT small business relief controlling