Australia's Tax Laws Amendment (Small Business Restructure Roll-over) Act 2016 received royal assent on 8 March 2016 following final passage by both houses of parliament on 29 February. The legislation enables small businesses (revenue < AUD 2 million) to defer the recognition of gains or losses that may arise from the transfer of active assets as part of a restructure of their business, including capital gains tax assets, trading stock, revenue assets and depreciating assets. A number of …