Does the $45,000 increase apply to me?

Does the $45,000 increase in the CGT Contributions Cap apply if I have fully utilised my CGT contributions cap in 2007/08?

Yes, you can if you have made capital gains which are subject to either the 15 year active asset small business concession or the retirement concession.  Up to $45,000 of those concessional gains can be counted against the CGT contributions cap.  The balance can be counted against the normal $150,000 non-concessional contributions cap.