The 2011-12 Budget included a measure to remove uncertainty about the application of the scrip for scrip roll-over in the capital gains tax (CGT) provisions and uncertainty in the small business concessions. Broadly, this measure replaces references to 'beneficial ownership' in these provisions with 'ownership' to ensure that the scrip for scrip roll over and small business concessions apply appropriately to taxpayers.
Treasury is releasing a proposals paper that will form the basis of consultation on the policy design of this measure. The proposals paper sets out, in broad terms, how the measure may be implemented.
The purpose of this proposals paper is to provide interested parties with an opportunity to comment on the policy design of the measure.