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Showing 61 - 70 of 276 results for "Capital gains tax"

New SMSF solution for Islamic Australians launched

ELIZA BAVIN  |  MONDAY, 25 MAR 2024
... when the property is eventually sold for a greatly increased price it will be tax free as it will be free of capital gains tax. "It is a religious, ethical and tax efficient win-win-win solution for Australian Muslims that was not available before."

Treasury details winners from tax concessions on super contributions

ANDREW MCKEAN  |  THURSDAY, 1 FEB 2024
... Also, the average benefit from superannuation earnings stood at $1140 for men and $760 for women. Regarding capital gains tax (CGT) discount for individuals and trusts, Treasury insights yet again indicate a trend favouring higher-income individuals. ...

Government must do more after product failures: FSC, SCA

JAMIE WILLIAMSON, RACHEL ALEMBAKIS  |  FRIDAY, 1 SEP 2023
... for MySuper products. In doing so, the government should offer members within failed trustee-directed products Capital Gains Tax rollover relief to facilitate the transition to contemporary investment options, he said. The results have also sparked calls ...

SMSFs brace for more reforms: Expert

KARREN VERGARA  |  TUESDAY, 20 JUN 2023
... market value (or the unrealised gain) of an asset. "Once that asset is sold, people will still be required to pay capital gains tax on the sale once actually sold, therefore triggering a double taxation arrangement, thereby warranting further consultation," ...

FAAA sounds alarm on no-consultation super reform

ANDREW MCKEAN  |  MONDAY, 22 MAY 2023
... payable. However, they might be only a year or two off transitioning into a pension product, which could make the capital gains tax avoidable," he said. Anderson also critiqued the "forcefulness" of the notifications, suggesting they were unduly pushing ...

Slash proposed tax rate for high super balances: FAAA

KARREN VERGARA  |  FRIDAY, 21 APR 2023
... more due to a number of factors including the taxing of unrealised gains, the lack of access to the one third Capital Gains Tax discount that applies to super funds and the lack of access to the benefit of franking credits that would otherwise be available ...

Super reform "takes away the right to be tax exempt"

ANDREW MCKEAN  |  TUESDAY, 28 MAR 2023
The potential super shake-up, which includes contentious provisions on pension payments and unrealised capital gains tax, has drawn criticism from a top AFSL. Under the existing Superannuation Industry Supervision (SIS) regulations, retirees must draw ...

Government enshrines new rule for Aussie Bitcoin owners

ANDREW MCKEAN  |  FRIDAY, 28 OCT 2022
... treatment of foreign currency. This measure maintains the current tax treatment of digital currencies, including the capital gains tax treatment where they are held as an investment. Though rather than to effect change, this measure was intended to remove ...

SMSFA calls for budget amendments

CASSANDRA BALDINI  |  WEDNESDAY, 7 SEP 2022
... adding a new member, or when starting a pension," it said. Next, it highlighted indexing key small business capital gains tax concession thresholds and said some of these thresholds have not been reviewed or updated for a considerable period. Protecting ...

Tax exemptions overwhelmingly benefit the wealthy: OECD

CHLOE WALKER  |  FRIDAY, 22 JUL 2022
An Organisation for Economic Co-operation and Development (OECD) report indicates that Australia's lack of capital gains tax has led to a monumental increase in house prices that have unfairly affected the less wealthy. The report states that between ...