Treasury Laws Amendment (2019 Tax Integrity and Other Measures No 1) Bill 2019 – No CGT concessions for Everett Assignments; no circular trust distributions; limit deductions for vacant land; disclose tax debts; salary sacrifice not for SGC

Tax Month - July 2019

On 24 July 2019, the Government introduced the Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019 which: limits Small Business CGT concessions on ‘Everett assignments; extends the ban on ‘circular trust distributions; limits deduction on vacant land; prevents employers treating ‘salary sacrifice’ employer contributions being used as SG contributions and authorising…