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Removal of the CGT discount for non-residents

Publication date: 13 May 13 | Source: CCH TAX WEEK

Issue: Issue 17 3 May 2013

Pages: pp 1-3


The Assistant Treasurer released exposure draft legislation and explanatory material to remove the CGT discount for temporary and non-residents on 8 March 2013. The proposed amendments to subdiv 115-B of ITAA 1997 will implement an announcement contained in the 2012/2013 Federal Budget on 8 Mat 2013.

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Andrew O'Bryan CTA
Andrew is a Partner at Hall & Wilcox Lawyers and provides advice on the application of a wide range of taxation. He has substantial knowledge of taxation and commercial practice and advises his clients on income tax, capital gains tax, tax audits and reviews, fringe benefits tax, business structuring and transactions, liquidations and reconstructions, superannuation, retirement planning, business succession, estate planning, and philanthropy. Andrew advises accounting and legal firms on their clients’ affairs. He also draws clients from industry, commerce and high-net-worth private family groups. One of his main interests is advising private business owners on the transition of management and control of family businesses to the next generation. Andrew has been recognised in the The Best Lawyers in Australia in Tax Law every year since 2014 and is a leading tax lawyer in Victoria in Doyle's Guide to the Australian Legal Profession. - Current at 12 November 2019
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Anthony Bradica CTA
Anthony is a Partner with Hall & Wilcox. He provides tax and legal advice to a diverse range of Australian and foreign owned corporate groups, specialising in income tax issues relating to acquisitions, restructures, divestments, and structuring inbound and outbound investments. - Current at 18 March 2016
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