In this episode, we work through three of the proposed tax reforms in more detail: the removal of the 50% CGT general discount (with its asterisks and carve-outs); the quarantining of negative gearing losses on certain residential dwellings; and the new Division 119 minimum 30% tax on capital gains.
We cover the transitional rules, the new capital gains method statement, and the indexation rules for individuals and trustees. We also look at the significant details still left to ministerial discretion — including the question of what will qualify as a ‘new residential dwelling’ — and what that means for advisers trying to give practical guidance right now.
Listen now.
