From 1 July 2027, the Government plans to replace the 50% capital gains tax discount with cost-base indexation and a minimum 30% tax on capital gains. There is a transitional rule for assets you hold across that date, which means if you sell later, you may need a defensible market value of your business around the transition to separate the gain that accrued before from the gain after.
That is a valuation question, and it pays to get it done properly and early. On the other side, the small-business CGT concessions are set to reach more owners, with the turnover threshold rising from $2 million to $10 million.
Held through a family trust? From 1 July 2028, a minimum 30% tax will apply to distributions from discretionary trusts, with rollover relief available for three years from 1 July 2027 for small businesses that want to restructure. If your business sits in a trust, understanding your valuation and exit timeline now gives you time to work with your advisers on the right structure before these changes take effect.
This is general information, not financial or tax advice. The rules are still moving through Parliament, so speak with your accountant or registered tax professional about your position.