Draft Taxation Determination

TD 93/D117

Income tax: capital gains: are there any CGT consequences arising from the transfer of section 80G or section 160ZP losses after 25 June 1992?

  • Please note that the PDF version is the authorised version of this draft ruling.
    This document has been finalised by TD 93/120.

FOI status:

draft only - for comment

Preamble

Draft Taxation Determinations (TDs) present the preliminary, though considered, views of the ATO. Draft TDs may not be relied on; only final TDs are authoritative statements of the ATO.

1. No. The transfer of such losses will not have any CGT consequences if transferred after 25 June 1992.

2. Section 160A and subsections 160M(6) and 160M(7) of Part IIIA of the Income Tax Assessment Act 1936 were amended by Taxation Laws Amendment Act (No 4) 1992 with effect from 25 June 1992.

Note: The treatment of loss transfers on or before 25 June 1992 is covered in TD22.

Commissioner of Taxation
13 May 1993

References


BO CGT Cell (CGTDET74)

ISSN 1038-8982

Related Rulings/Determinations:

TD 22

Subject References:
income losses
net capital losses
transfer of losses

Legislative References:
ITAA 80G
ITAA 160A
ITAA 160M(6)
ITAA 160M(7)
ITAA 160ZP

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