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CGT Determination Number 7

TD 7

Capital Gains: What are the CGT consequences of sub-dividing pre-CGT land?

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FOI status:

may be releasedFOI number: I 1018958

1. Where pre-CGT land is sub-divided after 19 September 1985 the land will maintain its pre-CGT acquisition date because there is no change in ownership.

2. In such cases, sub-section 160P(6) may have application.

Note :
Profits from the sub-division may be taxed as ordinary income .

Commissioner of Taxation
10 September 1991

References

ATO references:
NO N.O. 86/9907-1

ISSN 1037 - 1419

Subject References:
Sub-division of land

Legislative References:
ITAA 160P(6)

TD 7 history
  Date: Version: Change:
You are here 10 September 1991 Original ruling  
  10 March 1999 Consolidated ruling Addendum

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