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Individual Podcasts

Not All Assets are Eligible for the Small Business CGT Concessions – They Do Need to be “Active”

One of the basic conditions to be eligible for the CGT small business concessions is that the relevant asset satisfies the active asset test. This session takes a closer look at the complexities of this requirement, including: Assets that are specifically excluded from being ac
PRESENTED BY Andrea Carrick Director, SMSF Specialist Advisor - AG Tax Lawyers , Melbourne

Date/Time

About the Podcast

One of the basic conditions to be eligible for the CGT small business concessions is that the relevant asset satisfies the active asset test. This session takes a closer look at the complexities of this requirement, including:

  • Assets that are specifically excluded from being active assets
  • How assets are treated when their “main use” is to derive rent, including:
    • the treatment if a property is owned in a company (TD 2021/2)
    • how “rent” is defined for the active asset test (TD 2006/78)
    • how holiday homes, airbnbs and mixed use properties are treated
  • How is “main use” being interpreted for the active asset test?
  • The treatment of CGT assets owned by one entity and used by another related entity
  • The types of intangible assets that may be considered to be active assets
  • How the test applies to partnerships
  • Practical examples

Presented By

Andrea Carrick
Director, SMSF Specialist Advisor, AG Tax Lawyers Melbourne, Vic

Andrea Carrick, Director of AG Tax, has over 18 years of experience advising SMEs and high net worth individuals in all areas of taxation including income tax, CGT, GST and state taxation matters. She advises both corporate and private family businesses across a wide range of industries, focusing on complex business restructuring, commercial transactions and estate and succession planning. Andrea also has a wealth of experience liaising and negotiating with the ATO and Revenue Offices on behalf of clients in audits, investigations, objections and private ruling applications.

Andrea has a keen focus on superannuation, particularly in respect of SMSFs. She has extensive experience advising SMSF trustees and their advisers in regulatory and compliance matters and maximising opportunities for members with the intersection of the Small Business CGT Concessions and Superannuation. Andrea recognises the value of practical advice and is passionate about making these complex areas of tax and superannuation user friendly and accessible.

Andrea is a regular presenter for the TEN The Education Network, Legalwise Seminars and CPA tax discussion groups.

CPD Information

40 minutes 

0.67 CPD hours/units/points

WA Lawyers – TEN is unable to verify that you have earned CPD for this product as we cannot verify that you have listened to the podcast which is a requirement of the LPBWA.  TEN is an accredited provider.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact us, on (03) 8601 7700 or email: [email protected]

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