Improving the integrity of the small business CGT concessions

In the 2017-18 Budget as part of its tax integrity package, the Government announced that, from 1 July 2017, the tax law will be amended so that a taxpayer will only be able to access the small business CGT concessions in respect of assets that are used in a small business, or which represent an ownership interest in the small business.

The Government is seeking stakeholders’ views on the exposure draft legislation and accompanying explanatory materials implementing these changes.