New Merger Tax Rules to Make it Easier for Shareholders
06 January 2010
The Assistant Treasurer today announced the Government will make it easier for shareholders to defer certain capital gains made during takeovers or when companies merge.
The new laws will better align the CGT scrip for scrip roll-over requirements with the Corporations Act 2001, to make it easier for takeovers and mergers regulated by the Act to qualify for the roll-over.
Carving out takeovers and mergers (including via a scheme of arrangement) that satisfy the member participation and other requirements of the Corporations Act from having to satisfy the member participation requirements of the scrip for scrip roll-over will ensure the roll-over operates more effectively.
More information on how to make a submission on the Government’s four-week consultation on the legislative design of these reforms is available at www.treasury.gov.au
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