Draft Taxation Determination

TD 93/D4

Income tax: capital gains: where an asset owned by the deceased at the time of death passes to a remainderman on the death of a life tenant, what is the date of acquisition of the asset by the remainderman?

  • Please note that the PDF version is the authorised version of this draft ruling.
    This document has been finalised by TD 93/37.

FOI status:

draft only - for comment


Draft Taxation Determinations (TDs) present the preliminary, though considered, views of the ATO. Draft TDs may not be relied on; only final TDs are authoritative statements of the ATO.

1. A remainderman, who has a vested or contingent interest in an asset which formed part of the estate of a deceased person, is a beneficiary in that estate.

2. If the deceased died before 20 September 1985, the remainderman is taken to have acquired the asset before that date. (This is the case even if the asset does not pass to the remainderman until the life tenant dies on or after 20 September 1985) - subsection 160X(4) of the Income Tax Assessment Act 1936.

3. If the deceased dies on or after 20 September 1985, the remainderman is taken to have acquired the asset on the date of death of the deceased - subsection 160X(5).

Commissioner of Taxation
21 January 1993


BO 93/1427-5 (CGTDET37)

ISSN 1038 - 8982

Related Rulings/Determinations:

TD 93/D3
TD 93/D5
TD 93/D6

Subject References:
deceased estates
life tenant
CGT asset
date of acquisition

Legislative References:
ITAA 160X(4)
ITAA 160X(5)