Taxation Determination
TD 93/120
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| 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 transfer of section 80G and section 160ZP losses will not have any capital gains tax consequences if transferred after 25 June 1992.
Commissioner of Taxation
24 June 1993
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
| Date: | Version: | Change: | |
| You are here | 24 June 1993 | Original ruling | |
| 9 June 1999 | Withdrawn |