capital gains

Expanding the empire (and retaining the CGT main residence exemption)

A question that surfaces now and then from clients in regard to capital gains is whether the main residence exemption extends to additional land acquired after the time of acquisition of the residence. The short answer is yes — provided that certain requirements are met (which in the main pertain to subsections 118-120 and 118-165

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Active vs passive assets and the small business CGT concession

The small business capital gains tax concessions are extremely valuable, and for small business owners who need to dispose of assets that have risen in value during the time they have owned them, accessing these concessions can mean greatly reducing any consequent tax liability, even to zero. But to access the CGT concessions some conditions

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