Deferring capital gains tax on small businesses for two years. Division 152 of the ITAA1997 allows certain small business further capital gains tax concessions, provided certain requirements are met.  The requirements are quite complex so if any of these situations apply, or you think may apply, contact BNT Legal to discuss your situation further as it may be a beneficial call saving you thousands in tax. Under Division 152 of the ITAA1997, if certain conditions are met, a taxpayer is able to choose rollover relief in respect of all, or part, of a capital gain arising from the sale of an active asset. The effect of this is the taxpayer is able to defer paying capital gains tax (or part thereof) … Continue reading Want to defer capital gains tax for up to 2 years?