Taxation Determination

TD 2003/13

Income tax: capital gains: what is the improvement threshold for the 2003-2004 income year under section 108-85 of the Income Tax Assessment Act 1997?

This version is no longer current. Please follow this link to view the current version.

• Please note that the PDF version is the authorised version of this ruling.
  This document has changed over time. View its history.

FOI status:

may be released

1. For the 2003-2004 income year, the improvement threshold is $104,377.

2. The improvement threshold is determined for the purposes of section 108-70 (about when a capital improvement to a pre-CGT asset is a separate asset) and section 108-75 (about capital improvements to CGT assets for which a roll-over may be available).

3. The improvement threshold is required by subsection 108-85(2) to be indexed annually in accordance with Subdivision 960-M.

4. This Determination is published, as subsection 108-85(3) requires, before the 2003-2004 financial year begins.

Date of effect

5. This Determination applies for the 2003-2004 income year.

Commissioner of Taxation
21 May 2003

Not previously issued in draft form

References

ATO references:
NO 2003/005389

Related Rulings/Determinations:

TR 92/1
TR 97/16
TD 94/56
TD 95/23
TD 96/30
TD 97/12
TD 98/13
TD 1999/29
TD 2000/25
TD 2001/12
TD 2002/12

Subject References:
asset improvement
capital gains
improvement
improvement threshold
indexation
threshold

Legislative References:
ITAA 1997 108-70
ITAA 1997 108-75
ITAA 1997 108-85
ITAA 1997 108-85(2)
ITAA 1997 108-85(3)
ITAA 1997 960-M
TAA 1953 Part IVAAA