This video is a filmed session from the National Convention, PowerPoint slides are incorporated with the presentation.
The ATO is increasing activity in the review and audit of CGT small business concession claims. This session considered the continuing challenges around managing the $6 million net asset threshold including a review of recent cases and issues arising in practice, such as:
- connected entities, control and the Gutteridge and De Vuba cases
- liabilities and the Bell and Byrne Hotel cases
- the blurred lines around assets with a partial private use
- valuation issues and the ATO's view - Syttadel
- assets and the Breakwell case
- CGT exempt amounts.