On 4 February 2016, the Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016 was introduced in the Australian House of Representatives. The bill will enable small businesses to defer the recognition of gains or losses that may arise from the transfer of active assets as part of a restructure of their business, including capital gains tax assets, trading stock, revenue assets and depreciating assets.
To be eligible for the roll-over, each party to the transfer must be either:
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