Taxation Ruling
IT 121H - Notice of Archival
Section 26AAA - property transactions arising from liquidation
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Please note that the PDF version is the authorised version of this ruling.
FOI status:
may be releasedNotice of Archival
Taxation Ruling IT 121 is no longer current and has been archived.
The ruling is about former section 26AAA of the Income Tax Assessment Act 1936. Section 26AAA included in assessable income any profit from selling property that was bought within the previous 12 months. The section applied to property that was sold before 26 May 1988. The section was repealed in 1994.
Commissioner of Taxation
8 May 1996
References
ATO references:
NO NAT 96/1465-6
ISSN 0813-3662
Related Rulings/Determinations:
IT 121