Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

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History

Pt 3-1 inserted by No 46 of 1998.

Division 108 - CGT assets  

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History

Div 108 inserted by No 46 of 1998.

Subdivision 108-D - Separate CGT assets  

Guide to Subdivision 108-D

SECTION 108-50   What this Subdivision is about  

For CGT purposes, there are:

• exceptions to the common law principle that what is attached to the land is part of the land; and

• special rules about buildings and adjacent land; and

• rules about when a capital improvement to a CGT asset is treated as a separate CGT asset.

Note:

In addition to the circumstances set out in this Subdivision, separate asset treatment can apply under section 124-595 (about a roll-over for a Crown lease) and section 124-725 (about a roll-over for a prospecting or mining entitlement).

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History

S 108-50 amended by No 109 of 2014, s 3 and Sch 10 item 28, by substituting " and section 124-725 (about a roll-over for a prospecting or mining entitlement) " for " , section 124-725 (about a roll-over for a prospecting or mining entitlement) and sections 124-895, 124-915 and 124-920 (about roll-overs for FSR transitions) " in the note, effective 17 October 2014.

S 108-50 amended by No 101 of 2004, No 173 of 2000 and inserted by No 46 of 1998.

TABLE OF SECTIONS

TABLE OF SECTIONS

Operative provisions
108-55	When is a building a separate asset from land?
108-60	Depreciating asset that is part of a building is a separate asset
108-65	Land adjacent to land acquired before 20 September 1985
108-70	When is a capital improvement a separate asset?
108-75	Capital improvements to CGT assets for which a roll-over may be available
108-80	Deciding if capital improvements are related to each other
108-85	Meaning of improvement threshold

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