Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p8
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 8/29)
Character Range: 2864143–2866954

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 does not apply to a *capital gain to which Subdivision 152‑B (15‑year exemption) applies.
Note: Under that Subdivision, such a gain is entirely disregarded, so there is no need for any further concession to apply.

152‑220  You may choose not to apply this Subdivision
  You may choose not to apply the reduction mentioned in section 152‑205 to a particular *capital gain.
Note: Making this choice might allow a company or trust to make larger tax‑free payments under the small business retirement exemption: see section 152‑325.

Subdivision 152‑D—Small business retirement exemption

Guide to Subdivision 152‑D

152‑300  What this Subdivision is about

      You can choose to disregard a capital gain from a CGT event happening to a CGT asset of your small business if the capital proceeds from the event are used in connection with your retirement.
      There is a lifetime limit of $500,000 for all choices that can be made in respect of an individual under this Subdivision.
      You may choose not to apply the concession in section 152‑205 (small business 50% reduction) before this one. For an additional concession, see also Subdivision 152‑E (small business roll‑over).
      You do not need to satisfy the basic conditions for this exemption in relation to CGT events J5 and J6.

Table of sections
152‑305 Choosing the exemption
152‑310 Consequences of choice
152‑315 Choosing the amount to disregard
152‑320 Meaning of CGT retirement exemption limit
152‑325 Company or trust conditions
152‑330 15‑year rule has priority

152‑305  Choosing the exemption

Individual
 (1) If you are an individual, you can choose to disregard all or part of a *capital gain if:
 (a) the basic conditions in Subdivision 152‑A are satisfied for the gain; and
 (b) if you are under 55 just before you make the choice—you contribute an