Which statement most accurately describes the law in relation to Small Business Entity (SBE) Concessions?Select one:a. SBE must choose whether to apply the roll-over relief concession; or can opt for the 50% discount, but cannot apply bothb. Provided they meet the criteria, SBE can apply multiple CGT discounts at the same timec. None of these statements are correct as SBE, Companies and Trusts do not qualify for CGT discountsd. Overall value of all assets owned by the Small Business Entities (SBE) must be less than $10 million to qualify for CGT concessions
Which statement most accurately describes the law in relation to Small Business Entity (SBE) Concessions?Select one:a. SBE must choose whether to apply the roll-over relief concession; or can opt for the 50% discount, but cannot apply bothb. Provided they meet the criteria, SBE can apply multiple CGT discounts at the same timec. None of these statements are correct as SBE, Companies and Trusts do not qualify for CGT discountsd. Overall value of all assets owned by the Small Business Entities (SBE) must be less than $10 million to qualify for CGT concessions
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which statement most accurately describes the law in relation to Small Business Entity (SBE) Concessions?Select one:a. SBE must choose whether to apply the roll-over relief concession; or can opt for the 50% discount, but cannot apply bothb. Provided they meet the criteria, SBE can apply multiple CGT discounts at the same timec. None of these statements are correct as SBE, Companies and Trusts do not qualify for CGT discountsd. Overall value of all assets owned by the Small Business Entities (SBE) must be less than $10 million to qualify for CGT concessions
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