From 1 July 2021, if a non-arm’s-length capital gain is made by a segregated current pension asset on or after 1 July 2021, it will be treated as non-arm’s length income (“NALI”), meaning that it will be taxed at the highest marginal rate of 45% under section 295-550 of the Income Tax Assessment Act 1997 (“ITAA97”).
Capital Gains Tax
3 tips to help reduce capital gains tax
If you have sold an investment property, shares or other investment asset in the last financial year, you may be liable to pay Capital Gains Tax.
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