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In the 2009-10 budget, the government announced that it will ensure that the unexpended income of a special disability trust is taxed at the beneficiary's personal income tax rates rather than the top personal tax rate plus Medicare levy, with effect from the 2008-09 income year.

The government also announced that it will extend the CGT main residence exemption to include a residence that is owned by the trustee of a special disability trust and used by the beneficiary as their main residence, with effect from the 2009-10 income year.

The ATO advises that a consultation paper will be released in mid 2009 outlining possible approaches giving effect to this announcement through legislation.

For a copy of the ATO advice, go here

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