• Project Refresh rewrites – completed

    This following rewrites have been completed through Project Refresh:

    • TD 2017/13 Income tax: capital gains: if you build a dwelling on land that you acquired before 20 September 1985 ('pre-CGT'), are you required to make a choice under section 118-150 of the Income Tax Assessment Act 1997 (ITAA 1997) to get the main residence exemption?

    Published 17 May 2017. Replaced TD 59 Capital gains: where a dwelling is erected on pre-CGT land, is an election required under subsection 160ZZQ(5) to get the principal residence exemption for the time during which construction takes place?

    • TD 2017/10 Income tax: capital gains: can costs that you incur after a CGT event happens be ‘related to’ that CGT event for the purpose of working out your incidental costs?

    Published 5 April 2017. Replaced TD 23 Capital gains: can incidental costs incurred after an asset is disposed of form part of the cost base of the asset?

    • TD 2017/7 Income tax: can freshwater crayfish be trading stock and, if so, can you use a reasonable estimate of the number of freshwater crayfish to value them under Subdivision 70-C of the Income Tax Assessment Act 1997?

    Published 29 March 2017. Replaced IT 2667 Income tax: trading stock valuation of freshwater crayfish

    • TD 2017/8 Income tax: is the cost of travelling to have a tax return prepared by a ‘recognised tax adviser’ deductible under section 25-5 of the Income Tax Assessment Act 1997 (ITAA 1997)?

    Published 29 March 2017. Replaced TD 94/92 Income tax: is the cost of travelling for the purpose of having a tax return prepared by a ‘recognised professional tax adviser’, an allowable deduction under section 69 of the Income Tax Assessment Act 1936?

    • TD 2017/1 Income tax: capital gains: can intangible capital improvements made to a pre-CGT asset be a separate asset for the purpose of subsections 108-70(2) or (3) of the Income Tax Assessment Act 1997 (ITAA 1997)?  

    Published 25 January 2017. Replaced TD 5 Capital gains: are intangible improvements caught by subsection 160P(6)?

    Last modified: 16 Jun 2017QC 51346