Draft Legislation – Assignments of Partnership Interests precluded from getting Div 152 ‘small business CGT relief – only assignments when the assignee becomes a partner will remain eligible
ON Monday 15.10.2018, Treasury released draft legislation to give effect to its 2018-19 Budget measure to remove access to the small business CGT measures for partners that (in the main case) assign part, or all of their interest in the partnership – which was done in the well known Everett [1980] HCA 6 and Galland [1984]…