This consultation process has now been completed. Submissions available
Date
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Consultation Type
Exposure Draft
Key Documents
The attached exposure draft legislation and draft explanatory memorandum give effect to minor amendments to the operation of the capital gains tax (CGT) provisions in the Income Tax Assessment Act 1997.
In particular, the measure ensures a CGT exemption is available to trustees and beneficiaries who receive compensation or damages for certain insurance policies. The amendments also ensure that the CGT exemption available to a trustee of a superannuation entity covers insurance policies related to injuries or illness.