The new and improved small business concessions continue to provide practitioners with incredible opportunities to save tax for clients but their application is far from straightforward. This presentation helps you chart a course through specific pitfalls of the concessions as well as examining some of the new opportunities that continue to emerge. Topics covered include:
- the small business entity rules – upsides and downsides
- the benefits of carrying on a business
- new definitions of “affiliate” and “connected with”
- how spouses can be useful
- issues with selling shares or units
- issues with the active asset test
- interest-free loans from the Government using the rollover concession
- Part IVA and the SBC.