The Government will remove the 50% CGT discount for non-residents on capital gains accrued after 7.30pm (AEST) on 8 May 2012. The CGT discount will remain available for capital gains that accrued prior to this time where non-residents choose to obtain a market valuation of assets as at 8 May 2012.
Date of effect: The measure will apply to capital gains that accrue after 7.30pm (AEST) on 8 May 2012.
Source: Budget Paper No 2 [p 31]
[WTB 19, 8/5]