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Big changes proposed to eligibility for the CGT SBCs

The Treasurer has released draft legislation containing new “integrity improvements” to the CGT small business concessions¬†(‘SBCs’) (i.e., including the 15-year exemption, the retirement exemption, the 50% active asset reduction and the small business roll-over).

2019/20 Federal Budget

There are a number of initiatives for Australian businesses including:

  • Increasing the instant asset write-off threshold to $30,000.
  • Expanding access to medium sized businesses with an annual turnover of less than $50 million to help them reinvest in their business, employ more workers and grow.
  • The $3.5 million Making Innovation Games National measure will pilot a national version of this initiative. The Games will bring together small¬†
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