Federal Government eases infrastructure taxes
The Federal Government has announced it will remove tax disincentives in a bid to encourage more private investment in infrastructure projects.
Assistant Treasurer, Bill Shorten, and Federal Minister for Infrastructure and Transport Anthony Albanese, released a discussion paper on the 2011/12 budget initiative.
The new rules for tax losses that are attributable to designated infrastructure projects will:
- Uplift the value of carry forward tax losses by the 10 year Government bond rate
- Exempt the tax losses from the continuity of ownership test and the same business test.
The discussion paper can be found here
Closing date for submissions is Friday, 9 December.