Having examples is the best way to understand how the Small Business CGT Concessions work. The only problem is there are thousands of possible scenarios. I will be doing some real life examples in a later video. derek
This is a fantastic video Derek. Thank you for all you do. My wife and I are 50/50 share holders in our company that we have owned for over 15 years. I am over 55, she 52. If we want to sell the business now and not wait another 3 years for her to turn 55, should she resign her 50% Share making me 100% and therefore avoid any cgt?
There is always a twist. The transfer of the 50% shares from your wife to you, will create a Capital gains tax event for your wife when you do the transfer. It would be hard to value the business low for that transfer and then sell the business a few weeks later for $1m. derek
