[3953] Back-to-back CGT rollovers
Title
Draft Practical Compliance Guideline
Back-to-back CGT roll-overs – ATO compliance approach
Purpose
This draft Guideline will explain when we are more likely to apply compliance resources to consider potential tax risks, including the application of Part IVA of the Income Tax Assessment Act 1936 (the general anti-avoidance provisions of the income tax law) to an arrangement that comprises multiple CGT rollovers.
Expected completion
Late 2025
Comments
Estimated completion in late 2025 is subject to the High Court’s finalisation of the appeal of the Full Federal Court’s decision in AusNet Services Limited v Commissioner of Taxation [2025] FCAFC 21.
Contact
Tara McLachlan, Private Wealth
Phone: (07) 3149 5339
[4172] Application of CGT event K6 [updated]
Title
Addendum to Taxation Ruling
Taxation Ruling TR 2004/18 Income tax: capital gains: application of CGT event K6 (about pre-CGT shares and pre-CGT trust interests) in section 104-230 of the Income Tax Assessment Act 1997
Purpose
The addendum will revise aspects of TR 2004/18 about how the capital gain is calculated when a CGT event K6 happens. It will focus on the interpretation and application of subsection 104-230(6) of the Income Tax Assessment Act 1997, including the approach to working out which items of post-CGT property relevant capital proceeds are reasonably attributable to.
Expected completion
July 2025
Comments
The draft update to Taxation Ruling TR 2004/18DC Income tax: capital gains: application of CGT event K6 (about pre-CGT shares and pre-CGT trust interests) in section 104-230 of the Income Tax Assessment Act 1997 published on 11 December 2024. Comments period closed on 14 February 2025.
Contact
Heran Kim, Private Wealth
Phone: (02) 9685 8516
[4188] Deceased estates: 'double death'
Title
Draft Taxation Determination
CGT consequences under Division 128 of the Income Tax Assessment Act 1997 when a beneficiary of a deceased estate dies before a CGT asset of the deceased estate passes to them
Purpose
This guidance will clarify the Commissioner’s view on the application of the CGT rollover concession in Division 128 of the Income Tax Assessment Act 1997 when a beneficiary of a deceased estate dies before a CGT asset of the deceased estate passes to them.
Expected completion
Late 2025
Contact
Danijela Jablanovic, Individuals and Intermediaries
Phone: (07) 3213 5864
Danijela.jablanovic@ato.gov.au
[4189] Deceased estates: right to occupy
Title
Draft Taxation Determination
What constitutes a right to occupy a dwelling 'under a deceased’s will' for the purpose of obtaining the CGT exemption in section 118-195 of the Income Tax Assessment Act 1997?
Purpose
This guidance will provide the Commissioner’s view on when an individual has a right to occupy a dwelling under a deceased’s will for the purposes of subsection 118-195(1) of the Income Tax Assessment Act 1997 to obtain a CGT main residence exemption.
Expected completion
Mid 2026
Contact
Penny Hextall, Individuals and Intermediaries
Phone: (03) 8601 9423