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Australian Lawyers and Consultants

Tax Office Clarifies Capital Gains Position for Trusts

April 2001

Following the Federal Government announcement to defer the Entity Tax regime for discretionary trusts for at least 12 months, instead of 1 July 2001, the Treasurer on 22 March 2001 announced that the current access of trusts to the Capital Gains Tax concessions (including the 50% CGT discount) will continue. The position in relation to cost-base adjustments for unit holders of fixed trusts has also been clarified.

For further information, contact Joe Lederman at BALDWINS, Australian Lawyers & Consultants.

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