Q: I’m interested in the small business capital gains tax concessions where the government has increased the turnover test from $2 million to $10 million, and in particular, the ability to contribute more into superannuation. I operate a small business through a company, of which I am the sole shareholder and director. The business turnover is approximately $5 million a year, and its net profit is approximately $1 million a year. My net assets, including the business, exceed the $6 million asset test. If I sell my shares in the company, might I be able to access the small business CGT concessions? – FrankA: When governments change rules like the recent CGT overhaul, the effects rarely stay in one lane – they can flow on to other entitlements. The small business CGT concession is a case in point. But the short answer to your question, says Garth Drinkwater, managing director of Small Business CGT Concessions Specialists, is that owning the business through a company changes the answer, and the lift to $10 million does far less for you than the headlines suggest.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles