Draft Taxation Determination
Income tax: capital gains: if Australian currency facilitates a CGT event happening to a CGT asset, how is the Australian currency treated for capital gains purposes?
Please note that the PDF version is the authorised version of this draft ruling.This document has been finalised by TD 2002/25.
FOI status:Not previously released in draft form
1. Currency, being notes and coins, is generally the medium of exchange for a CGT event. For the CGT event, the use of the currency as the medium of exchange, of itself, has no direct capital gains consequences.
4. We invite you to comment on this Draft Taxation Determination. We are allowing 4 weeks for comments before we finalise the Determination. If you want your comments considered, please provide them to us within this period.
|Comments by Date:||10 September 1999|
|Contact officer details have been removed following publication of the final ruling.|
Commissioner of Taxation
11 August 1999
BO CGT asset summit 1999
medium of exchange