Calls to scrap CGT discount on family trusts

Every few years proposals are made about significant taxation reform on discretionary trusts (commonly referred to as ‘family trusts’). From the entity tax proposal of the early 2000’s, to the recent submissions made by KPMG to phase out discretionary trust access to the 50% capital gains tax discount.

CGT Rollover relief for small business restructures

At Ballantyne Law Group, we often talk about the importance of properly structuring a business. One factor that often prevents small businesses from restructuring is the capital gains tax consequences on the transfer of assets.