I am a sole trader carrying Australian Business Number, I bought land and built a child care centre, the business was ready to run how ever i decided to sell it before it runs and produce income. I made profit on the sale of the childcare.
My Inquiries are;
1) Am i Entited for the %50 Capital Gain Discount
2) Is it considered as a small business entity even if it is sold before it runs.
3) Is it considered as an active asset as it was completely ready to run before it has been sold.
4) Am I entitle for small busiess concession i.e. %50 active asset dicount
5) if i also decide to use the profit of the business to buy another childcare centre can i get the rollover small business concession.
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279 views
1 replies