When selling a portion of your business do you need to pay capital gains tax on the percentage that you are selling?
This will principally depend on whether you've made a capital gain or not.
How you would to detirmine that is by assessing your net sale proceeds and comparing that to your proportionate total cost of acquisition of the business (whatever proportion you are selling) in addition to any costs that you've capitalised on the way through, you take the proportion that you're selling of each of those and determine if you made a capital gain.
If you've made a capital gain it would usually would be accessible.
Good luck with it,
Are you selling shares in the business? Are you getting a new Partner? Is it a Trust? How long have you had the business?
There is small business relief exemptions available for CGT for small business which includes roll over, Money into Super, 15-year exemption rule.
If you are getting a new partner then maybe an issue of new shares is the better option.
send me an email with details firstname.lastname@example.org and we can have an in-depth chat. This is a complicated issue but not difficult.