Document ID: chunk:federal_register_of_legislation:C2010C00612:clause:1_1:p12
Version: federal_register_of_legislation:C2010C00612
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 12/19)
Character Range: 28910–31728

case of a trust mentioned in subsection 152‑55(2)—the percentage of the income and capital of the trust to which the CGT concession stakeholder was beneficially entitled just before the CGT event; or
 (c) in the case of a trust mentioned in subsection 152‑55(3) that had a single CGT concession stakeholder just before the CGT event—100%; or
 (d) in the case of a trust mentioned in subsection 152‑55(3) that had 2 CGT concession stakeholders just before the CGT event—50% each.

Subdivision 152‑C—Applying the small business concessions

Guide to Subdivision 152‑C

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.
      None of these rules apply if the 15‑year exemption already applies to the capital gain, since such a gain is disregarded anyway.

Table of sections

152‑205 You get the small business 50% reduction
152‑210 You may also get the small business retirement exemption and small business roll‑over relief
152‑215 15‑year rule has priority

[This is the end of the Guide.]

152‑205  You get the small business 50% reduction

  The amount of a *capital gain remaining after applying step 3 of the method statement in subsection 102‑5(1) is reduced by 50%, if the basic conditions in Subdivision 152‑A are satisfied for the gain.

Example: For an individual (other than one who opts to claim indexation instead of the discount), the discount percentage that applies under step 3 of the method statement is 50%. Therefore, the combined effect of the discount percentage and this section would be to reduce the original capital gain by a total of 75%.

 For an individual who opts to claim indexation, or a company, there is no discount percentage, so the individual or company would simply get the 50% reduction under this section.

152‑210  You may also get the small business retirement exemption and small business roll‑over relief

 (1) The *capital gain, as reduced under section 152‑205, may also qualify for:
 (a) the small business retirement exemption (see Subdivision 152‑D); or
 (b) a small business roll‑over (see Subdivision 152‑E);
or both.

 (2) If it qualifies for both of those concessions, you may choose which order to apply them in.

152‑215  15‑year rule has priority

  This Subdivision and Subdivisions 152‑D and 152‑E do not apply to a *capital gain to which