Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p4
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 4/18)
Character Range: 2810193–2812948

exemption in relation to CGT events J5 and J6.

Table of sections

Basic conditions for relief
152‑10 Basic conditions for relief
152‑12 Special conditions for CGT event D1

Maximum net asset value test
152‑15 Maximum net asset value test
152‑20 Meaning of net value of the CGT assets

Active asset test
152‑35 Active asset test
152‑40 Meaning of active asset
152‑45 Continuing time periods for involuntary disposals

Treatment of passively held CGT assets
152‑47 Spouses or children taken to be affiliates for certain passively held CGT assets
152‑48 Working out an entity's aggregated turnover for passively held CGT assets
152‑49 Businesses that are winding up

Significant individual test
152‑50 Significant individual test
152‑55 Meaning of significant individual

CGT concession stakeholder
152‑60 Meaning of CGT concession stakeholder

Small business participation percentage
152‑65 Small business participation percentage
152‑70 Direct small business participation percentage
152‑75 Indirect small business participation percentage

Nomination of controllers of discretionary trust
152‑78 Trustee of discretionary trust may nominate beneficiaries to be controllers of trust

CGT event happens to asset or interest within 2 years of an individual's death
152‑80 CGT event happens to an asset or interest within 2 years of individual's death

Basic conditions for relief

152‑10  Basic conditions for relief
 (1) A *capital gain (except a capital gain from *CGT event K7) you make may be reduced or disregarded under this Division if the following basic conditions are satisfied for the gain:
 (a) a *CGT event happens in relation to a *CGT asset of yours in an income year;
Note: This condition does not apply in the case of CGT event D1: see section 152‑12.
 (b) the event would (apart from this Division) have resulted in the gain;
 (c) at least one of the following applies:
 (i) you are a *CGT small business entity for the income year;
 (ii) you satisfy the maximum net asset value test (see section 152‑15);
 (iii) you are a partner in a partnership that is a CGT small business entity for the income year and the CGT asset is an interest in an asset of the partnership;
 (iv) the conditions mentioned in subsection (1A) or (1B) are satisfied in relation to the CGT asset in the income year;
 (d) the CGT asset satisfies the active asset test (see section 152‑35).
Note: This condition does not apply in the case of CGT event D1: see section 152‑12.

CGT small business entity
 (1AA) You are a CGT small business entity for an income year if:
 (a) you are a *small business entity for the income year; and
 (b) you would be a small business entity for the income year if each reference in section 328‑110 to $10 million were a reference to $2