Taxation Determination

TD 93/120W

Income tax: capital gains: section 160A and subsections 160M(6) and 160M(7) of the Income Tax Assessment Act 1936 were amended by Taxation Laws Amendment Act (No 4) 1992 with effect from 25 June 1992. Are there any CGT consequences arising from the transfer of section 80G or section 160ZP losses after that date?

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FOI status:

may be releasedFOI number: I 1215356

Notice of Withdrawal

Taxation Determination 93/120 is withdrawn with effect from today.

The law relating to the CGT treatment of subvention payments has been clarified by amendments to subsections 160ZP(11) and (12). The amendments apply to the 1996/97 and later income years. This Determination considers the CGT treatment for subvention payments prior to these amendments. It is considered that this Taxation Determination is no longer necessary.

Commissioner of Taxation
9 June 1999

Previously issued as Draft TD 93/D117

References

ATO references:
NO CGT Cell (CGTDET74)

Related Rulings/Determinations:

TD22

Subject References:
income losses
net capital losses
transfer of losses

Legislative References:
ITAA 80G
ITAA 160A
ITAA 160M(6)
ITAA 160M(7)
ITAA 160ZP