"Please look at the whole picture, not just a small piece of the jigsaw" implored Treasury Minister Teare at the end of his 2012 Budget speech.
Well there's one piece that just doesn't fit in and we make no apology for returning to it, following our article 25.02.12 :"TAX: Bye, Bye ARI - Hello CGT?".
We focused on confusion created with the abolition of the ARI and a replacement measure on tax distributions introduced via a Treasury Practice Note 174/12. The Note seemed to open the door for a potential Capital Gains Tax on company assets.