Government decides on unlegislated tax measures

The Assistant Treasurer has announced the outcome of consultations over the backlog of 92 announced but unlegislated tax and superannuation measures. Senator Sinodinos said, of the 64 measures that were considered further, 16 will proceed and 48 measures will not proceed.

Measures to proceed include: CGT treatment of earn-out arrangements; strengthening certain integrity provisions in the CGT scrip for scrip roll-over; income tax treatment of instalment warrants; loss recoupment rules – multiple classes of shares; GST reverse charge for going concerns; GST and cross-border transactions – “connected with Australia” rules; amendments announced last month to the thin capitalisation and offshore banking units measures; and TOFA – amendments to tax hedging rules.