INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteIf:
(a) the disposal of an asset is covered by paragraph 160T(1)(b) , but not by any other paragraph of subsection 160T(1) ; and
(b) the taxpayer used the assets in the way described in that paragraph for only part of the period (the ``ownership period'' ) starting when the taxpayer acquired the asset and ending when the taxpayer disposed of the asset; and
(c) a capital gain has accrued to the taxpayer, or the taxpayer has incurred a capital loss, in respect of the disposal;
the amount of the capital gain, or of the capital loss, (as the case may be) is taken to be:
| Amount of the gain or loss
referred to in paragraph (c) |
× |
Number of days the asset was used
in the way described in paragraph 160T(1)(b) Number of days in the ownership period |
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