New CGT Laws - What Is Out?

1. Cost base indexation ceases and is frozen at 30 September 1999.
   
   
2. Plant eligible for depreciation is excluded from CGT if disposal is on or after 21 September 1999.
   
   
3. Averaging of capital gains does not apply where CGT events occur on or after 21 September 1999.
   
   
4. There is no discount for capital gains made by companies. A company can get cost base indexation frozen at 30 September 1999.
   
   
5. The 50% goodwill exemption, retirement exemption, and roll-over relief for small businesses have been modified.