Initial consultation will be undertaken on the design of these amendments - a Discussion Paper providing further information about this proposal has been released on the Teasury website. Later, an exposure draft of the legislation will also be released on the Treasury website for consultation.
The changes will apply to CGT events that happen after the date of Royal Assent. Taxpayers will also have the option to apply the changes from the 2004-05 income year to the date of Royal Assent.
For a copy of the Minister's media release, No 2009/019, 19 March 2009, go here.
For a copy of the Treasury Discussion Paper, go here.