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