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- Title
Maximum net asset value test.
- Abstract
The article focuses on the decision on the case Gordon J in Bell v. FCT which answers the question on when a liability of an entity will be related to the maximum net asset value test that applies for the purposes of accessing the Corporate Gift Treasury (CGT) small business reliefs. In the case, the primary issue was whether a gross capital gain of 6,018,221 made in the 2006-2007 income year by a discretionary trust called the Bell Family Trust qualified for the CGT small business relief.
- Subjects
LEGAL judgments; FCT (Company); LEGAL liability; NET Asset Value; CAPITAL gains tax; ACTIONS &; defenses (Law)
- Publication
Taxation in Australia, 2012, Vol 47, Issue 5, p259
- ISSN
0494-8343
- Publication type
Article