Loan to be taken into account in MNAV test - Breakwell's case Background
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Loan to be taken into account in MNAV test - Breakwell's case

- 11 January 2016

In Breakwell & Anor v FC of T [2015] FCA 1471, the Federal Court has confirmed that a loan had to be taken into account in the maximum net asset value (MNAV) test when determining the taxpayers’ eligibility for small business CGT concessions. This meant that the taxpayers were not entitled to the concessions.

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