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Access Tax - Capital gain small business active asset reduction in Access Tax

Updated over 2 months ago

The amount of capital gain small business active asset reduction should only be reported in two fields in an individual tax return:

  1. Log in to Tax and select the required tax return.

  2. In the Main form, go to item 18.

  3. Enter Y at labels G and M.

  4. Code A advises the ATO (Australian Taxation Office) that it is a small business active asset reduction (Subdivision 152-C).

    Capital Gains
  5. In the Capital Gain Tax (CGT) schedule, at item 5, Label A, enter a value.

    CGT concessions
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