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Big changes proposed to eligibility for the CGT SBCs

The Treasurer has released draft legislation containing new “integrity improvements” to the CGT small business concessions (‘SBCs’) (i.e., including the 15-year exemption, the retirement exemption, the 50% active asset reduction and the small business roll-over). Due to the government’s “continued support for genuine small business taxpayers”, it proposes making amendments so that the CGT SBCs […]

Practice Update – February 2018

Further ‘affordable housing’ measures passed Parliament has passed the legislation allowing first home buyers to save for a deposit inside superannuation through the First Home Super Saver Scheme (FHSSS), and also allowing older Australians to ‘downsize’ and then contribute the proceeds of the sale of their family home into superannuation. From 1 July 2018, a […]

Practice Update – December 2017

Parliamentary Update Editor: The ongoing citizenship saga in Parliament has resulted in the Government losing its one-seat majority in the House of Representatives, thanks to the resignations of Barnaby Joyce and John Alexander. By-elections have been scheduled in the relevant electorates and, in the meantime, some of the cross-benchers have guaranteed the Government’s (current) survival […]

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