Government Announcements
CGT and business restructuring
18.05.2010
As part of the 2010-11 Budget, the Assistant Treasurer announced that the Government will introduce CGT amendments to improve the ability for businesses to restructure.
In particular, the Government will:
● extend the CGT roll-over for the conversion of a body to an incorporated company;
● broaden the range of CGT roll-overs where entities can use a share or interest sale facility for foreign residents in a restructure; and
● allow CGT demerger relief for demerger groups that include corporations sole or complying superannuation entities that currently cannot access the relief.
These measures are to apply to CGT events that happen after 7.30pm (AEST) on 11 May 2010.
For the text of the Assistant Treasurer’s media release click here.
