Got this email from a partner of a firm this morning...unofficial and non confirmed disclaimer disclaimer etc etc "One of our SMSF Partners is down at the SMSF association annual conference in Melbourne. The word coming out of there is (unofficially) confirming the 50% CGT concession is going to be removed in the May budget (there has been some chatter about this so may not be a surprise). The surprise is that they are also going to remove the small business CGT concessions. These are the vehicle whereby most people can dump large amounts of cash/assets into super pre-retirement (tax free) and is a big motivator in the establishment of SMSFs. Interesting times ahead in the property & SMSF market. " Discuss
We'll know in May. I am neither surprised nor unsurprised by anything this mob do - because they dont do anything
Was it ever a policy or was it strategically "leaked" (aka made up) by the opposition? I genuinely have no idea because I refused to follow either of them.
All fake news....both lots They are all clutching onto Trumps win, copying him and the terms. All sides.
Yep, a whole lot of nothing going on. I do not like all the talk and reactionary policy and action, the on again off again, look at NSW govt. chops and changes more than Sydney weather, no wonder business does not want to invest and expand.
Hmmm. Days away from signing an SMSF purchase contract. Not really a whole lotta choice at this stage
The small business CGT concessions are their to acknowledge that for most small business owners the business is their superannuation. They do not get the benefit of SGL over their lifetime so when they eventually sell this is their one chance to put money into their superannnation. And it is any superannuation fund environment not just SMSF. It would stifle entrepreneurial endeavours. Small and medium business is the driver of employment in this country. Let's hope we encourage people to have a go and create something.
