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  • Advice under development – capital gains tax issues

    We are developing advice and guidance on the following capital gains tax issues.

    [3802] Trust capital gains

    Title
    Draft Taxation Determination
    Income tax: is the source concept in Division 6 of Part III of the Income Tax Assessment Act 1936 (Division 6) relevant in determining whether a non-resident beneficiary of a resident trust (or trustee for them) is assessed on an amount of trust capital gain arising under Subdivision 115-C of the Income Tax Assessment Act 1997?

    Registered
    6 September 2016

    Purpose
    To clarify the taxation treatment of capital gains for a non-resident beneficiary or trustee of a resident trust.

    Expected completion
    To be advised

    Comments
    See also finalised consultation matter [201644]

    Targeted consultation has now ended. We are considering comments and issues raised which will be taken into account in developing the draft Taxation Determination.

    [3803] Capital gain from a non-resident beneficiary on a non-fixed trust

    Title
    Draft Taxation Determination
    Income tax: does Subdivision 855-A (or subsection 768-915(1)) of the Income Tax Assessment Act 1997 (ITAA 1997) disregard a capital gain that a foreign-resident (or temporary resident) beneficiary of a resident non-fixed trust makes because of the operation of subsection 115-215(3)?

    Registered
    6 September 2016

    Purpose
    To clarify the taxation treatment of capital gains from non-taxable Australian property assets of a non-fixed trust.

    Expected completion
    To be advised

    Comments
    See also finalised consultation matter [201644].

    Targeted consultation has now ended. We are considering comments and issues raised which will be taken into account in developing the draft Taxation Determination.

    Last modified: 30 Jan 2018QC 50316