The CGT relief measure was introduced to discourage the mass selling of pension-supporting investments before 1 July 2017. The intent of the new rule is to provide CGT relief on the gains accrued before that date, so as not to disadvantage members who are required to commute a pension due to the changes.
Super funds, where part of the fund’s investment return is a capital gain on individual assets, will be impacted by the changes.
Importantly, CGT relief is not automatic – the trustee of a super fund must choose for the relief to apply for a CGT asset in the approved form.
But there are many conditions and a number of traps if you’re not quite sure what you’re doing. To avoid these traps you should Click here to arrange an obligation free CGT Relief Strategy Session with one of our professional advisers.
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Grab a copy of our detailed article “HOW DOES CGT RELIEF WORK?” here.
These rule changes could lead to a significant tax liability if you don’t act now.