Taxation Determination
TD 92/116W
Income tax: capital gains: when is the grant of the deemed option in paragraph 160ZZC(12)(a) taken to have occurred?
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FOI status:
may be releasedFOI number: I 1212838Notice of Withdrawal
Taxation Determination 92/116 is withdrawn with effect from today.
CGT event H1 in section 104-150 of the Income Tax Assessment Act 1997 considers the CGT consequences when the deposit relating to a prospective purchase or other transaction is forfeited. It clearly states that the time of the event is when the deposit is forfeited. As the the law is expressed clearly it is considered that no further explanation is needed.
Commissioner of Taxation
9 June 1999
References
ATO references:
NO ADVG CHERM
Related Rulings/Determinations:
TD 9
Subject References:
Forfeiture of deposits
prospective purchase or other transactions
option
grant of deemed option
Legislative References:
ITAA 106ZZC(3)(a)
ITAA 160ZZC(12)
ITAA 160ZZC(12)(a)
Date: | Version: | Change: | |
16 July 1992 | Original ruling | ||
You are here | 9 June 1999 | Withdrawn |
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