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Removal of the CGT trust cloning exemption

Published on 01 Mar 09 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

On 31 October 2008 the Government announced it will remove the trust cloning exemption to CGT events E1 (creating a trust) and E2 (transferring a CGT asset to a trust). CGT events E1 and E2 will happen without the trust cloning exemption where a trust is created or a CGT asset transferred to a trust after that date. This article questions the need for the removal of the exemption.

Author profile:

Christopher Bevan CTA
Chris is Barrister Wentworth Chambers. Current at 01 July 2012 Click here to expand/collapse more articles by Christopher J BEVAN.
 
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