MasterNuggets with Meng: Applying the 30% Minimum Tax in CGT Calculations

Work through the 30% minimum tax in CGT calculations using a practical case study, exploring how the rules apply in practice

In this session, we cover:

• 30% Minimum Tax

  • How Division 119 works

  • Calculation: the seven-step method

  • Exceptions for pension and payment recipients

  • Exclusions for trust beneficiaries

• Interaction with CGT concessions

  • Main residence exemption and residency

  • Deferred gains and the CGT discount

  • Deceased estate two-year rule

• Interaction with other provisions of the income tax law

  • Tax-free threshold and low income offset

  • Super pensions as NANE income