As per my understanding:
On 01/07/2027 it will be considered as deemed sales and not the actual sale, later on when you actually sold the shares CGT will be calculated on a regular basis, but 50% discount will be replaced with indexation. As per the ATO guidelines 'The new arrangements will only apply to capital gains that accrue after 1 July 2027 when they are realised'.
FMV on 01/07/2027 will be your reset base, So CGT will be calculated on reset base and indexation cost will be calculated on the FMV as on 01/07/2027
So, Sale price Less Indexation cost base = Net gain
Please let me know if i made a mistake.
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