Document ID: chunk:federal_register_of_legislation:C2010C00300:clause:7_83
Version: federal_register_of_legislation:C2010C00300
Segment Type: clause
Provision Reference: sch 7 cl 83
Character Range: 42643–43554

83  Section 152‑200
Repeal the section, substitute:

152‑200  What this Subdivision is about

      This Subdivision tells you how to apply the small business CGT concessions mentioned in step 4 of the method statement in subsection 102‑5(1).
      A capital gain is reduced by 50% if the basic conditions in Subdivision 152‑A are satisfied.
      If the capital gain has already been reduced by the discount percentage, the 50% reduction under this Subdivision applies to that reduced gain.
      The capital gain may be further reduced by the small business retirement exemption or a small business rollover, or both.
      Alternatively, you may choose not to apply the 50% reduction and instead apply the small business retirement exemption or small business rollover.
      None of these rules apply if the 15‑year exemption already applies to the capital gain, since such a gain is disregarded anyway.