4 CGT Concessions Every Small Business Owner Should Know

Small business owners can take advantage of capital gains tax (CGT) concessions to minimise expenses and maximise profits. Felicity and Candice are back with their essential 'need to know' episodes and are going through the four essential CGT concessions to consider:Small Business 15-Year Exemption: Disregard any CGT on assets owned for 15+ years.Small Business 50% Active Asset Reduction: Reduce CGT by 50% on assets used in the business for at least 12 months.Small Business Retirement Exemption: Disregard up to $500,000 CGT on assets used for retirement.Small Business Rollover: Defer CGT by using sale proceeds to buy a similar asset for the business.They make you aware of these CGT concessions to save money and secure a profitable future. Listen and find out now! Follow Talk Money To Me on Instagram, or send Candice and Felicity an email with all your thoughts here. Felicity Thomas and Candice Bourke are Senior Advisers at Shaw and Partners, and you can find out more here. *****In the spirit of reconciliation, Equity Mates Media and the hosts of Talk Money To Me acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today. *****Talk Money To Me is a product of Equity Mates Media. This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697.Talk Money To Me is part of the Acast Creator Network. Hosted on Acast. See acast.com/privacy for more information.