A combination of the entry of the "Baby Boomer" generation to retirement and a monumentally good season has seen a lot of people in the OPE Industry considering a potential sale of their business. However, owners need to take a deep breath first and make sure that they organise their affairs in such a manner as to properly consider the tax implications of a sale. Most small business owners would be aware of the Howard government's Capital Gains Tax provisions for a concession on the sale of long-term assets. It is unlikely that most would be aware of the exact nature of those provisions. Careful: If those requirements are not met, there is no concession -just a hefty tax bill.
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