ASBFEO - Small business CGT concessions

Question

Senator LIDDLE: I have a couple of quick questions. The government has said that small business is protected from the budget's CGT changes because existing concessions remain. One of the thresholds is based on revenue of $2 million. That sounds like a lot, but, for a small business with a margin of five per cent, $2 million of threshold means it's only making about $100,000 in profit a year. How many small and family businesses are actually outside of those concessions? Ms McAlary-Smith: I would need to take that on notice.

Answer

See attached response.

Documents

• Question with answer (PDF) (opens in a new tab)
• SQ26-000494 ASBFEO - Small business CGT concessions.pdf (opens in a new tab)