One of the more unexpected outcomes that have come out of the remarkable rise in agricultural land and the subsequent commodity prices has been the impact on families who may be relying on the Small Business CGT exemptions.
As it currently stands, a net asset position of $6M or an annual turnover of $2m or less is not hard to breach.
Many people and families going through the retirement options and Succession Planning exercise present some issues.
We tax plan annually for income tax but rarely do we spend the time and plan for CGT.
Now is a great time to review the portfolio to ensure your Small Business CGT Concessions