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A federal court in Australia recently issued a ruling that would affect how small businesses can avail of the new capital gains tax or CGT concession. The business owner used an adjacent property as a shed to house tools and equipment. The business owner uses the tools and equipment in his bricklaying business. When the owner sold the property, he claimed CGT concessions. His reason was that he used the property for his business. What is this CGT concession? In 2018, the Australian government passed a law giving small businesses enterprise (SME) four types of concessions for gains. The gains, however, have...Read More