| Capital Gains Tax (CGT) including Small Business CGT concessions |
This fact sheet provides an overview of the capital gains tax (CGT) concessions available for small business and the basic conditions you must satisfy to access the concessions.
The concessions reduce the capital gain on business assets that you must include in your assessable income.
You must first satisfy the basic conditions that apply to all the CGT concessions for small business. You must then satisfy any additional conditions that apply specifically to the individual concessions.
You can apply as many concessions as you are entitled to until the capital gain is reduced to nil. This choice allows you to achieve the best tax results for your circumstances.
There are rules about the order you apply the CGT small business concessions, any current year or prior year capital losses and the CGT discount. See Guide to capital gains tax concessions for small business.
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