Taxation Determination
TD 93/38
Income tax: capital gains: does section 160X of the Income Tax Assessment Act 1936 apply to assets acquired by a legal personal representative which were not owned by the deceased at the date of death?
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FOI status:
may be releasedFOI number: I 1214346| This Determination, to the extent that it is capable of being a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953 , is a public ruling for the purposes of that Part. Taxation Ruling TR 92/1 explains when a Determination is a public ruling and how it is binding on the Commissioner. Unless otherwise stated, this Determination applies to years commencing both before and after its date of issue. However, this Determination does not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before the date of issue of the Determination (see paragraphs 21 and 22 of Taxation Ruling TR 92/20). |
1. No. The roll-over relief provided by section 160X of the Income Tax Assessment Act 1936 only applies to assets owned by a person at the time of the death of that person.
2. Section 160X applies where an asset which formed part of the estate of the deceased passes to a legal personal representative. In the context of the section, we consider that this refers only to assets owned by the deceased at the time of death.
Commissioner of Taxation
11/03/93
Previously issued as Draft TD 93/D3
References
ATO references:
NO 92/1427-5 (CGTDET36)
Related Rulings/Determinations:
TD 93/37
TD 93/36
TD 93/35
IT 2664
Subject References:
assets;
CGT asset
death;
deceased estates;
legal personal representative
Legislative References:
ITAA160X
| Date: | Version: | Change: | |
| You are here | 11 March 1993 | Original ruling | |
| 22 June 2005 | Withdrawn |