CGT rollover for amalgamations of Indigenous corporations
On 14 December 2013, the Assistant Treasurer announced that the capital gains tax (CGT) rollover for amalgamations of Indigenous corporations would not be proceeding.
End of attention
The government had previously announced, in the 2011–12 Budget, a measure to provide capital gains tax (CGT) and other rollovers for Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) corporations that amalgamate with one or more other CATSI Act corporations.
This measure planned to introduce new rollovers into the Income Tax Assessment Act 1997 (ITAA 1997) to ensure that tax consequences do not impede CATSI Act corporations from amalgamating to form stronger and more sustainable corporations.
Find out more
End of find out more