Taxation Ruling

IT 2328PW2 - Partial Withdrawal

Income tax: capital gains provisions: interpretation and operation

• Please note that the PDF version is the authorised version of this ruling.

FOI status:

Notice of Partial Withdrawal

The law in relation to the taxation of the net income of a trust that has a net capital gain was altered by the introduction of Subdivision 115-C of the Income Tax Assessment Act 1997. That Subdivision applies to assessments for the income year including 21 September 1999 and all later income years, but only for CGT events that happen after 11.45am (by legal time in the Australian Capital Territory) on 21 September 1999.

Paragraphs 12 to 16 inclusive of Taxation Ruling IT 2328 are withdrawn with effect from 11.45am legal time in the Australian Capital Territory on 21 September 1999.

This withdrawal is in addition to the previous partial withdrawal of IT 2328 issued on 8 December 1999.

Commissioner of Taxation
11 September 2002

References

ATO references:
NO 2002/011971

Related Rulings/Determinations:

IT 2328
IT 2328W - Partial Withdrawal
IT 2328W - Withdrawal