Units trusts and cost base resets under the transfer balance cap (TBC)

In February 2017, Phil Broderick of Sladen legal article was published “Units trusts and cost base resets under the TBC” in the Tax Institute’s Journal, Taxation in Australia.

The cost base reset measure has been implemented to help alleviate the retrospective application of the transfer balance cap measure (so that only future gains are taxed). However, as discussed in the article, the cost base reset does not always work for super funds that hold units in unit trusts as the cost base reset occurs at the unit level not the underlying asset level.

A copy of this article can be accessed here.

To discuss this article, or for further Information please contact:

 

Phil Broderick
Principal
Sladen Legal
T +61 3 9611 0163  l M +61 419 512 801  
Level 5, 707 Collins Street, Melbourne, 3008, Victoria, Australia
E: pbroderick@sladen.com.au

Melissa Colaluca
Associate  
Sladen Legal                                                                
T +61 3 9611 0161
Level 5, 707 Collins Street, Melbourne, 3008, Victoria, Australia  
E: mcolaluca@sladen.com.au