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What you seem to be missing is that the CGT Event date is the contract date - not the settlement date. Please re-read what Rob has written and critique that but it is not helpful for you just to make gut statements without any legislative support or backing.

Thanks Rob. Great contribution to this interesting issue.

Just a simple "I was wrong " would suffice.

Is this sarcasm? My problem is with the following: However I have now read the legislation and it is clear that the work test only needs to be satisfied at some point during the relevant year in which the contribution is to be made. I realise that there may be an issue if the...

OK Now you have really confused me. You say the work test must have been met BEFORE the contribution is made? And then you say the CGT event (which I understand to be the contract date) ends the ability to meet the work test? What I think you mean is that the the work test can be satisfied...

A farmer sells his farm with a contract date of 1 April 2015 but a settlement date of 1 July 2015. The farmer will retire once the farm sells. The farmer, a sole trader, is 71 years old and the farm meets all of the small business CGT 15 year exemption conditions. He would like to...