Taxation Determination

TD 94/64W

Income tax: capital gains: what are the CGT consequences of the disposal of real property if the property comprises separate CGT assets under section 160P of the Income Tax Assessment Act 1936 (the Act) or if the property is sold with depreciable assets?

• Please note that the PDF version is the authorised version of this withdrawal notice.
  This Determination has been replaced by TD 98/24
  This document has changed over time. View its history.

FOI status:

Notice of Withdrawal

1. Taxation Determination TD 94/64 is withdrawn with effect from today. It is replaced by Taxation Determination TD 98/24, which applies in respect of CGT events under the Income Tax Assessment Act 1997 (the 1997 Act) that happen to real property after the beginning of the 1998-99 income year.

2. The 1997 Act now applies separate asset treatment to a building or structure on post-CGT land only if one of the balancing adjustment provisions applies (subsections 108-55(1) and 108-70(1)). Improvements that entitle owners to a deduction for capital works expenditure are no longer treated as assets separate from the land.

3. TD 94/64 continues to apply to disposals of real property under the Income Tax Assessment Act 1936 occurring before the beginning of the 1998-99 income year.

Commissioner of Taxation
28 October 1998

Previously issued as Draft TD 93/D266.

References

ATO references:
NO CHM ADV (CGTDT82A)

Subject References:
apportionment
building write-off
capital improvement
contract
depreciable assets
real property
separate assets

Legislative References:
ITAA 75B
ITAA Pt III Div 10D
ITAA 160P
ITAA160P(7)
ITAA160ZD(4)