The Tax and Superannuation Laws Amendment (2015 Measures No. 6) Bill 2016 was introduced in the House of Reps on Thursday 3.12.2105 and was passed without amendment on Thursday 4.2.16. The Bill is here and the EM is here. Capital gains tax treatment of earnout rights Schedule 1 to this Bill amends the Income Tax Assessment Act…
The Tax and Superannuation Laws Amendment (2015 Measures No 6) Bill 2015 was passed by the House of Reps on Thursday 4.2.2016 without amendment and now moves to the Senate. The Bill proposes the following amendments: Will amend the ITAA 1997 to change the CGT treatment of the sale and purchase of businesses involving certain earn-out rights –…
The Bill and Explanatory Memorandum for the Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016 (in the House of Reps on Thur 4.2.2016) are attached. Bill (4.2.16) EM (4.2.16) The Bill effectively seeks to allow small businesses to change the legal structure of their business and have the CGT liability disregarded and deferred until eventual disposal. It will allow…
The Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016 was introduced in the House of Reps on Thur 4.2.2016. It was passed in the House of Representatives on 22 February 2016 and finally passed both houses on 29 February 2016. The Bill will amend the ITAA 1997 to provide greater flexibility for small businesses to change their legal…