Capital Gains Tax Determination

TD 15W

Income tax: capital gains: does roll-over relief apply if there is a capital loss following the loss, destruction of, or damage to, an asset acquired after 19 September 1985?

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FOI status:

may be released

Notice of Withdrawal

Taxation Determination TD 15 is withdrawn with effect from today.

The Income Tax Assessment Act 1997 makes it clear there are no rollover consequences if there is a capital loss in the circumstances outlined above (subsection 124-70(1), Note 1). There is no material change from the views that were expressed in TD 15.

Commissioner of Taxation
10 March 1999

References

ATO references:
NO NAT 98/12257-6

Subject References:
Roll-over
Capital loss
Involuntary disposal

Legislative References:
160ZZK(6)
160ZZL(1)(c)