What’s changing in the government’s CGT reforms? | ABC NEWS
The government has announced $475 million of tax concessions following consultation and feedback. As ABC economics reporter Tom Crowley reports the changes include:
The 50 per cent extra capital gains tax discount for small businesses will be extended to those with a turnover of up to $10 million instead of $2 million.
They will introduce a new innovative tax concessions for start-up businesses. And income from all types of discretionary testamentary trusts will be exempt from the minimum tax, provided they are established for genuine testamentary purposes.
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