EV 1052495745198currentnon-binding advice

CGT - small business concession

Non-binding edited private advice. This is an edited version of private advice the ATO gave to a specific taxpayer about their own circumstances. You cannot rely on it — it is not binding and provides no protection for anyone else (see PS LA 2008/4). Use it as a guide to the ATO’s thinking, not as authority.

1

1 Are the two unrelated shareholders, XXX as trustee for (XXX) XXX Family Trust and XXXX Pty Ltd XXXX XXXX Family Trust affiliates of the Company for the purposes of calculating CGT small business concession under section 328-130 of the Income Tax Assessment Act 1997 ?

2

1 No. The shareholders are not affiliates of the Company. This ruling applies for the following period : Income year ended 30 June 20XX The scheme commenced on: 1 July 20XX

3

The Company operates a business. The Company's share structure consists of 100 ordinary shares held by the following shareholders: 75 shares are owned by XXXX XXXX XXXX Family Trust.. 25 shares are owned by XXXX XXXX XXXX Family Trust. The shareholders are not related. The shares have proportional rights to income, capital and voting as per their shareholding percentage. The Company has never paid out any dividends to the shareholders. The Company entered into a sale contract to sell its capital asset and made a capital gain.

4

Income Tax Assessment Act 1997 section 328-130