Knowledge Base

Small business concession CGT case study - Selling your client's business

By Peter Bembrick, Tax Partner, HLB Mann Judd (NSW) (Sydney) & Greg Mascaro, Tax Director, HLB Mann Judd (VIC) (Melbourne)

The small business CGT concessions have been significantly expanded in recent years, and offer tremendous opportunities to pay little or no tax when selling a business. In this case study based session we will show how to take advantage of these concessions, and illustrate many of the traps that can be avoided with careful planning, including:

• Critical difference between selling the business entity, and selling the business assets 
• Applying the grouping rules, and strategies for staying under the $6m net asset threshold 
• When to use the alternative $2m turnover test for small business entities 
• Making sure that the assets being sold are in fact active assets
• Some key traps when relying on the 15 year exemption 
• How to make best use of the retirement concession
• Using the replacement asset rollover to avoid paying tax altogether 
• Comments on relevant Government announcements (if any) following the Henry Review report

Please find attached presentation and case study presented in Sydney by Peter Bembrick and presentation and case study presented in Melbourne by Greg Mascaro.

Audio of session in Sydney by Peter Bembrick

peter-bembrick-presentation.pdf
peter-bembrick-case-study.pdf
greg-mascaro-presentation.pdf
greg-mascaro-case-study.pdf

Published 4 Mar 10 in Business Advisory | Related event: Business Tax & Strategy Forum
Tagged with: small business concession, cgt

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