CGT Determination Number 7
Capital Gains: What are the CGT consequences of sub-dividing pre-CGT land?
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FOI status:may be releasedFOI number: I 1018958
|CGT Cell Determinations do not have the force of law, but can be relied upon as being the considered view of the ATO. Unless otherwise stated, the view expressed may be applied to transactions entered into both before and after the date of issue of the Determination.
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1. Where pre-CGT land is sub-divided after 19 September 1985 the land will maintain its pre-CGT acquisition date because no CGT event has happened. The subdividing of the land is not itself a CGT event: section 112-25 of the ITAA97.
Commissioner of Taxation
10 September 1991
NO N.O. 86/9907-1
Sub-division of land