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<p>Parliament has passed the <a href="/bills/52-273">Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Bill</a>. The Bill includes measures to:</p>
<ul>
<li>allow businesses to claim greater deductions for feasibility expenditure</li>
<li>loosen the loss continuity rules</li>
<li>extend the bright-line test, and</li>
<li>require consistent allocation of the purchase price of property in an asset sale.</li>
</ul>
<p>The Bill now awaits Royal assent.</p>
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