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Notes Online Home 2014 Tax Schools Day 2 What's new for business in 2014
CGT sting for taxpayers claiming CGT concessions on commercial rental properties
In this area of the notes we look at the CGT response to taxpayers claiming CGT concessions on commercial rental properties. The following topics are discussed:
- Passing the ‘active asset’ test
- AAT confirms that commercial rental properties do not qualify as ‘active assets’
- The outcome change if the taxpayer is ‘in the business’ of renting commercial property
- Guide to claiming the CGT SBCs for rental properties