Document ID: chunk:federal_register_of_legislation:C2007A00055:clause:1_39
Version: federal_register_of_legislation:C2007A00055
Segment Type: clause
Provision Reference: sch 1 cl 39
Character Range: 25913–27686

39  Sections 152‑50, 152‑55 and 152‑60
Repeal the sections, substitute:

152‑50  Significant individual test

  An entity satisfies the significant individual test if the entity had at least one *significant individual just before the *CGT event.

152‑55  Meaning of significant individual

  An individual is a significant individual in a company or a trust at a time if, at that time, the individual has a *small business participation percentage in the company or trust of at least 20%.

CGT concession stakeholder

152‑60  Meaning of CGT concession stakeholder

  An individual is a CGT concession stakeholder of a company or trust at a time if the individual is:
 (a) a *significant individual in the company or trust; or
 (b) a spouse of a significant individual in the company or trust, if the spouse has a *small business participation percentage in the company or trust at that time that is greater than zero.

Small business participation percentage

152‑65  Small business participation percentage

  An entity's small business participation percentage in another entity at a time is the percentage that is the sum of:
 (a) the entity's *direct small business participation percentage in the other entity at that time; and
 (b) the entity's *indirect small business participation percentage in the other entity at that time.

152‑70  Direct small business participation percentage

 (1) An entity holds a direct small business participation percentage at the relevant time in an entity equal to the percentage worked out using this table:

An entity's direct small business participation percentage
                                                            In this entity:                                                                               Is: