The small business restructure rollover allows small businesses to transfer active assets (an asset used by a company in its day-to-day operation) from one entity (the transferor) to one or more other entities (transferees), on or after 1 July 2016, without incurring an income tax liability.
This rollover applies to the transfer of active assets that are Capital Gain Tax assets, trading stock, revenue assets or depreciating assets.
You can access this concession if your business turnover is less than $10 million and both parties in transfer are:
- a small business entity
- an entity that has an affiliate that is a small business entity
- a partner in a partnership that is a small business entity.
- an entity that is connected with a small business entity
For further information and assistance, please contact DD's Taxation and Accounting Centre.