Taxation Determination

TD 95/23

Income tax: capital gains: for the 1995-96 income year:

(a)

what is the indexation factor for section 160P (major capital improvements to pre-CGT assets) of the Income Tax Assessment Act 1936; and

(b)

what is the associated indexed cost base threshold?

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FOI status:

1. For the 1995-96 income year:

(a)

the factor ascertained in accordance with subsection 160Q(3) [as affected by subsection 160Q(6)] is 1.025 ; and

(b)

the amount to be substituted in subparagraph 160P(6)(c)(ii) for improvements to which subsection 160P(6) applies is $84,347 .

2. This Determination is the written notice for the 1995-96 income year that subsection 160Q(7) requires the Commissioner of Taxation to publish before the relevant income year begins.

Commissioner of Taxation
15/6/95

References

ATO references:
NO NAT 94/3384-8; 95/4025-3

Related Rulings/Determinations:

TD 93/123
TD 94/56

Subject References:
asset improvement;
improvement;
indexation

Legislative References:
ITAA 160P
ITAA 160P(6)
ITAA 160P(6)(c)(ii)
ITAA 160Q(3)
ITAA 160Q(7)