Taxation Determination
TD 98/13
Income tax: capital gains: what is the improvement threshold for the 1998-99 income year under section 108-85 of the Income Tax Assessment Act 1997 ?
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FOI status:
may be releasedFOI number: I 1015689Date of Effect
This Determination applies for the 1998-99 income year.
1. For the 1998-99 income year, the improvement threshold is $89,992 .
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 1998-99 financial year begins.
Commissioner of Taxation
26 June 1998
Not previously released in draft form
References
ATO references:
NO NAT 94/3384-4; 95/4025-3
Related Rulings/Determinations:
TD 94/56
TD 95/23
TD 96/30
TD 97/12
Subject References:
asset improvement
capital gains
improvement
improvement threshold
indexation
threshold
Legislative References:
ITAA97 108D
ITAA97 108-70
ITAA97 108-75
ITAA97 108-85
ITAA97 108-85(2)
ITAA97 108-85(3)
ITAA97 960-M
ITAA97 960-270
ITAA97 960-275
ITAA97 960-280
Date: | Version: | Change: | |
You are here | 26 June 1998 | Original ruling | |
4 May 2016 | Withdrawn |