CGT Handbook Online Learning Module
The Learning Objectives
This online learning module is designed to test the user's overall knowledge of how the CGT small business relief rules operate in a range of practical situations. It must be emphasised that, since the relevant provisions are complex and extensive, it is only possible to cover the main areas of concern that arise for practitioners.
When using the module, the relevant paragraph(s) in the CGT Small Business Reliefs Handbook 2009-10 at which the particular topic is discussed can be accessed by clicking the link(s). In some instances, a following or preceding paragraph or paragraphs may also be relevant.
It is important to note that the format of the module does not lend itself to the testing of the correctness of the reasoning process which leads the user to give a particular answer. However, reference to the linked paragraph(s) of the Handbook will assist the user.
LEARNING OUTCOMES
If all questions are answered successfully without reference to the CGT Small Business Reliefs Handbook 2009-10, this indicates a good grasp of the operation of the CGT small business reliefs over a range of situations. However, it must be remembered that a correct answer may have been given as a result of an “educated guess”, and it would be prudent to read the relevant material in the Handbook to confirm that the principles are understood.
If a question is not answered correctly, the user should concentrate on familiarising him/herself with the relevant principles in relation to the particular question.
In all cases, before giving advice in relation to a matter in which the CGT small business reliefs are an issue, a practitioner must refer to all relevant materials (including the Handbook, any published ATO material and the terms of the ITAA 1997).
This online learning module comprises four segments each of which can be completed on its own.
PLEASE NOTE: This online learning module requires the latest version of Microsoft Internet Explorer.
This segment of the online learning module contains questions covering the topics:
- Basic conditions: general
- Maximum net asset value test
- Small business entity test
This segment of the online learning module contains questions covering the topics:
- Active asset test
- Affiliates
This segment of the online learning module contains questions covering the topics:
- Control/connected entities
- Significant individuals/CGT concession stakeholders
This segment of the online learning module contains questions covering the topics:
- 15-year exemption
- 50% reduction
- Retirement exemption
- Roll-over relief
- Company distributions
- Trust distributions
- Partnerships and partners
- Deceased estates