Taxation Determination

TD 2002/3A - Addendum

Income tax: capital gains: can a shareholder in HIH Insurance Limited choose to make a capital loss on a share in that company under CGT event G3 (about a liquidator declaring shares worthless) in section 104-145 of the Income Tax Assessment Act 1997 ?

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FOI status:

may be released

Addendum

Taxation Determination TD 2002/3 is amended with effect from today.

Delete:

Date of effect

This Determination applies to shares acquired on or after its date of issue. This Determination does not apply to taxpayers to the extent that it conflicts with the terms of settlement of a dispute agreed to before the date of the Determination (see paragraphs 21 and 22 of Taxation Ruling TR 92/20).

and substitute with:

Date of effect

This Determination applies to shares owned on 10 October 2001. This Determination does not apply to taxpayers to the extent that it conflicts with the terms of settlement of a dispute agreed to before the date of the Determination (see paragraphs 21 and 22 of Taxation Ruling TR 92/20).

Commissioner of Taxation
10 July 2002

References

ATO references:
NO T2001/014151