Limiting the trading stock exception for superannuation entities

In the 2011-12 Budget, the Government announced that it would remove access to the trading stock exception to the capital gains tax (CGT) primary code rule for certain assets (primarily shares, units in a trust and land) owned by a complying superannuation entity.

Following public consultation on the policy design of these changes, the Government has prepared an exposure draft of legislation and a draft explanatory memorandum for public consultation on this measure.