This topic contains 0 replies, has 1 voice, and was last updated by 
-
Posts
-
If you are a small business entity and your turnover is less than $2m then you do not need to consider the maximum net asset value test. However if you do not meet the definition of a small business entity then you must satisfy the maximum net asset value test which is currently $6 million.
This test will be satisfied Maillot Stanley N’Soki , if just before the CGT event, the total of the following does not exceed $6 million
* the net value of the CGT assets of the taxpayer ;
* the net value of the CGT assets of any ‘connected entities’ of the taxpayer; and
* the net value of the CGT assets of any ‘affiliates’ of the taxpayer , or ‘connected entities’ of the taxpayer’s affiliates.When determining whether this test has been satisfied the taxpayer can however exclude certain assets. These include
You must be logged in to reply to this topic.
