19 Jan 09 Optional CGT roll-over for complying super funds with capital lossesAs reported in 2009 TAXVINE No 1 (16 January 2009), on 23 December 2008, the Minister for Superannuation and Corporate Law, Senator Nick Sherry, announced that the Government will provide an optional CGT roll-over for capital losses arising from CGT events happening under a complying superannuation fund’s merger with an APRA regulated superannuation fund with at least five members.
The Minister has now released a Discussion Paper. The closing date for submissions is Friday 13 February 2009.
In a media release issued on 16 January 2009, the Minister said that it will apply to mergers occurring before 1 July 2010.
For a copy of the Discussion Paper, go here.
For a copy of the Minister's media release, No 2009/3, 16 January 2009, go here.