The Bill introduces a new CAT reporting requirement in respect of interest-free “specified loans” meeting the following conditions:
Close relative, for the purposes of this section includes a parent, civil partner of a parent, lineal ancestor or descendant, sibling and aunt or uncles.
The new measure comes into effect from 1 January 2024.
The Bill contains a number of technical amendments to the clawback provisions of CAT Agricultural Relief and Business Property relief.
Return to Finance (No.2) Bill 2023 Commentary
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