Capita Gains Tax

The ATO has found that some larger and wealthier businesses are mistakenly claiming the small business CGT concessions when they are not entitled to.

If you have claimed one or more Small business CGT concessions in recent income tax returns, you may receive a letter from the ATO. The letter will ask you to check your clients’ claims and ensure that they meet the basic eligibility conditions, and that they have records to substantiate their claim.