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Assuming unrealised is required, and capital is required, and gains is required, the following 31 results were found.

  1. With $3m super tax ‘the house always wins’

    The proposed method for taxing super balances above $3 million will generate problems because it treats income and unrealised capital gains equally, says IPA general manager, Tony Greco. He said it also failed to apply the CGT discount to unrealised...

  2. Why safety-first budget yields bonanza of questions

    through the design of how the additional tax will apply to defined benefit fund interests. The proposal to tax unrealised capital gains which will form part of “earnings” would set a worrying precedent for our tax system. The Tax Institute’s position is...

  3. Why Division 296 sets a stressful precedent

    In imposing a levy on unrealised gains, the $3 million super tax bucks basic principles. We are in the throes of a significant change to the taxation of superannuation as we await the next stage of the policy design. On 28 February, the government...

  4. Why 2023 was a year of living taxingly

    In the first of a two-part series, Robyn Jacobson looks at some of the sweeping changes and landmark decisions. The end of another working year provides an opportunity to relax over the festive break, reflect on the events of the year and regroup ahead...

  5. Unrealised capital gains are already taxed in Australia, claims minister

    Assistant Treasurer Stephen Jones has claimed it is “simply not true” that unrealised capital gains are not taxed anywhere else in the world. Minister Jones was speaking in response to amendments put forward on Wednesday by independent member for...

  6. Uncertainty around CGT exemptions

    While the small business capital gains tax exemptions are seemingly unaffected by the proposed budget changes, according to Challenger’s Jeremy Cooper, there are some areas of uncertainty. Speaking at event hosted by Spring Financial Group, Mr Cooper,...

    • Type: Article
    • Author: Miranda Brownlee
    • Category: Tax

  7. The windfall gains tax – plunder or taxation?

    The WGT does not require any “dutiable transaction” for the liability to arise, and therefore effectively taxes unrealised capital gains. Many landowners are unlikely to be able to pay the WGT when it arises. This is particularly the case where the...

  8. The curious case of Mrs Bowerman

    A recent AAT decision has examined the threshold test in the Myer Principle and how it relates to the acquisition of a private residence acquired for a ‘profit-making purpose’. In a recent decision by the Administrative Appeals Tribunal (the Tribunal),...

  9. Tax on unrealised gains in super ‘a dangerous precedent’

    The concept proposed under Labor’s $3 million threshold has sparked fears the same approach could be adopted for other types of entities. The idea of taxing unrealised gains under an earnings tax calculation is a unique concept for Australia and...

  10. Super tax increase ‘raises retrospective CGT issues’

    Labor’s move to double tax on balance earnings above $3 million throws up a problem with unrealised capital gains. The government should provide CGT relief for those impacted by the $3 million superannuation threshold to prevent capital gains being...

  11. SMSFA urges Senate to reject super tax legislation

    since this tax proposal was first mooted in early 2023, it seems determined to press ahead with the taxation of unrealised capital gains that will be disastrous for thousands of primary producers and small and family businesses who will be impacted.”...

  12. SMSFA urges Senate crossbench to halt ‘flawed’ super tax bill

    superannuation trustees have a legislative obligation to keep sufficient liquidity and therefore the taxation of unrealised capital gains should not be a liquidity concern lacks commercial realism. “It is completely unreasonable to expect trustees, when...

  13. Senate committee gives $3m super tax bill the green light

    to be responsible for setting this threshold, which is a common feature of the tax system." On the taxation of unrealised capital gains, the committee stated it understands views shared by inquiry participants but believes, on the balance of evidence,...

  14. Main residence exemption myths and misconceptions

    The surge in the residential property market continues to attract buyers and sellers, many involving the family home. This article considers the common myths and misconceptions when it comes to being eligible for the main residence exemption. When it...

  15. Labor’s tax policy to spur SMSF structuring rethink

    Accountants servicing SMSF clients may have to rethink their approach to structuring funds if Labor’s plans for the removal of excess dividend imputation credits kick in, a lawyer predicts. Speaking in a seminar, DBA Lawyers senior associate William...

  16. Joint bodies fight for crucial changes to $3m super tax bill

    issues before the bill is legislated. The joint bodies have previously expressed concerns about the taxation of unrealised capital gains under the measure due to the proposed calculation for the new tax and the absence of indexation. “The calculations...

  17. Independent MPs demand urgent changes to $3m super tax reforms

    for the $3 million superannuation tax. Eight independent MPs have united to oppose the "egregious proposal" to tax unrealised capital gains as part of the government's Better Targeted Superannuation Concessions and Other Measures bill. The bill,...

  18. IFPA calls for sweeping changes to Division 296 tax

    that Division 296 should not be legislated in its current form. The IFPA has urged the government to remove unrealised capital gains from the calculation of earnings and use actual taxable income and earnings as a measure of earnings. IFPA head of...

  19. Government’s super tax reforms ‘modestly’ reduce tax concessions: Assistant Treasurer

    with excessively large superannuation balances and the solution, which is currently before parliament that taxes unrealised capital gains, is not the answer.” Super concessions to exceed age pension On Tuesday, Minister Jones said the cost of...

  20. Give $3m-plus super balances free rein to restructure: NTAA

    15 per cent additional tax.” In common with other critics, the NTAA also highlighted that the tax would apply to unrealised capital gains which was: Inconsistent with the existing tax law. A negation of the general CGT discount. Creating a tax liability...

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