NEW ‘INTEGRITY’ MEASURES FOR THE SMALL BUSINESS CGT CONCESSIONS – SIGNIFICANT CHANGES WHEN SELLING SHARES OR UNITS

By Andrew Henshaw, John Storey and Rajan Verma

Treasury has recently released draft legislation that significantly restricts the availability of the small business CGT concessions. The changes are labelled as ‘integrity measures’ which implement an announcement in the 2017-18 budget.

However, the changes go much further than the budget night announcement and will significantly restrict the availability of the small business CGT concessions (the Concessions) where shares or units are being sold. Worse still, the changes are proposed to take effect from 1 July 2017, which means that some taxpayers may already be caught out.

Insight Authors…

ANDREW HENSHAW

Director

Andrew leads Velocity Legal’s Sydney practice.

If you are in a fight with the ATO or looking to restructure your business, you should have Andrew in your corner. Andrew is passionate about getting wins for his clients, solving difficult legal issues, and giving his clients clear and confident guidance. Andrew is a Chartered Tax Advisor, holds a Masters of Law from the University of Melbourne and is the author of ‘Life, Death and Taxes’. Andrew is also a passionate snowboarder and is always up for the next adventure in life.

0421 219 553  •  DOWNLOAD VCARD  •  READ ALL OF ANDREW'S ARTICLES

JOHN STOREY

Managing Director

 

John is an expert at solving complex tax, business and succession issues. He has a wealth of legal and practical business experience and he understands that tax does not operate in a bubble. John is a self-confessed tax nerd. He even loves Star Wars. He may just be able to save you or your clients from the dark side!

0425 878 890  •  DOWNLOAD VCARD  •  READ ALL OF JOHN'S ARTICLES

RAJAN VERMA

Director

Rajan is all about tax structuring and restructuring. He gets satisfaction from helping his clients obtain real tax benefits, such as CGT concessions or stamp duty exemptions. He has also learnt that saving tax is a great way to make friends. When things get too hard, Rajan is the guy you need to sort things out.

0402 811 298  •  DOWNLOAD VCARD  •  READ ALL OF RAJAN’S ARTICLES

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Level 49, 360 Elizabeth Street,
Melbourne VIC 3000

Level 10, 580 George Street,
Sydney NSW 2000

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