CGT Determination Number 25

TD 25

Capital Gains: What is the meaning of "value" in paragraph 160ZZT(1)(d)?

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FOI status:

may be releasedFOI number: I 1019154

1. One of the prerequisites for the application of section 160ZZT is the requirement that the "value" of the underlying property or interest acquired after 19 September 1985 by a private company or private trust estate exceeds 75% of the net worth of the relevant entity.

2. For the purposes of applying this test, the underlying property or interest is to be valued at "market value" and without regard to liabilities.

Commissioner of Taxation
31 October 1991

References

ATO references:
NO NO 12.87/3276-1

ISSN 1037 - 1419

Subject References:
Value of underlying property

Legislative References:
160ZZT

TD 25 history
  Date: Version: Change:
You are here 31 October 1991 Original ruling  
  9 June 1999 Withdrawn  

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