Key dates for EOFY
EOFY is approaching, please review our key dates.
Key dates for EOFY
EOFY is approaching, please review our key dates.
Key dates for EOFY
EOFY is approaching, please review our key dates.
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The CGT cap depends on the small business concession you claim, as summarised in the following table.
Lifetime cap amount | Generally available when you claim the1: | Source of funds that can be contributed |
---|---|---|
$1,865,000 | 15 year CGT exemption | Sale proceeds of the small business asset |
$500,0002 | CGT retirement exemption | Exempt capital gains disregarded under the retirement exemption |
Disclaimer 1 Conditions apply. To find out more, we suggest you speak to a registered tax agent or go to the Australian Taxation Office website.
Disclaimer 2 Also reduces the lifetime cap that can be used under the 15 years CGT exemption.
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Any advice and information on this website is general only, and has been prepared without taking into account your particular circumstances and needs. Before acting on any advice on this website you should assess or seek advice on whether it is appropriate for your needs, financial situation and investment objectives.
Any general tax information on this website is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.
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Insignia Financial Ltd ABN 49 100 103 722.
MLC Limited uses the MLC brand under licence. MLC Limited is part of the Nippon Life Insurance Group and is not part of the Insignia Financial Group.