You can choose to disregard a capital gain from a CGT event happening to a CGT asset of your small business if the capital proceeds from the event are used in connection with your retirement.

There is a lifetime limit of $500,000 for all choices that can be made in respect of an individual under this Subdivision.

You may choose not to apply the concession in section   152 - 205 (small business 50% reduction) before this one. For an additional concession, see also Subdivision   152 - E (small business roll - over).

You do not need to satisfy the basic conditions for this exemption in relation to CGT events J5 and J6.