Loading
This thread is archived and the information may not be up-to-date. You can't reply to this thread.
plg(Initiate)Initiate
18 Nov 2022

I’m hoping the forum can provide thoughts and experience on applying the small business 15 year CGT exemption and how one would evidence ‘retirement’ in terms of the legislation. 


Q1. Would the business (ABN) need to be sold or wound up?


Q2. What if the individual taxpayer comes out of retirement and either Re starts the business either with the same ABN or another?

353 views
1 replies
353 views
1 replies

Most helpful response

Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
20 Nov 2022

  1. Sale due to retirement - that is what 15 year concession requires.
  2. Retirement means never working 10+ hours per week ever again.

You need to get proper advice, as there are alternatives.



All replies

Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
20 Nov 2022

  1. Sale due to retirement - that is what 15 year concession requires.
  2. Retirement means never working 10+ hours per week ever again.

You need to get proper advice, as there are alternatives.



Featured articles

Renting out all or part of your home? What to include in your tax return

15 Apr 2026 · 4 min read time

How to work out your tax residency

15 Apr 2026 · 8 min read time

Top liked users

  1. Taxduck

    (Taxicorn)

    1288 likes

  2. Bruce4Tax

    (Taxicorn)

    1117 likes

  3. YellowPotato

    (Taxicorn)

    340 likes

  4. Ken_Oath

    (Master)

    199 likes

  5. knaresbro

    (Devotee)

    141 likes

Top contributors

  1. Bruce4Tax

    (Taxicorn)

    3397contributions

  2. Taxduck

    (Taxicorn)

    2828contributions

  3. YellowPotato

    (Taxicorn)

    903contributions

  4. knaresbro

    (Devotee)

    295contributions

  5. TobyJDodd

    (Devotee)

    176contributions

Loading
small business 15yr CGT exemption | ATO Community