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Capital Gains Tax Exemption for Compensation and Insurance

Published on 22 Oct 14 by THE TAX INSTITUTE

The Tax Institute welcomes the opportunity to make a submission to Treasury in relation to Tax and Superannuation Laws Amendment Bill: CGT exemption forcompensation and insurance (Exposure Draft). Legislative references in this submission are to the Income Tax Assessment Act 1997 unless noted otherwise. We welcome these amendments, which address one of the announced but unenacted measures from the previous government (Item 64 of the list of measures the current government announced that it would proceed with on 14 December 2013). Our submission proposes some amendments to the Exposure Draft, which would more fully address the relevant announcements.


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