It has been called one of the highest CGT’s proposed. It applies to small business’s and batches in its current form. However lets face it will probably get watered down if it survives. My guess probably will apply to shares and rentals only at 15%.
The Tax Working Group has released its final recommendation for what a capital gains tax might look like. Some very interesting points are discussed in the final report. Claiming expenses for Boarders and Air BNB could result in having to pay a CGT on your own home.
Trusts could allow for beneficiaries to live in tax free homes.
