Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 115 - Discount capital gains and trusts ' net capital gains  

Subdivision 115-B - Discount percentage  

SECTION 115-100  

115-100   What is the discount percentage for a discount capital gain  

The discount percentage for an amount of a * discount capital gain is:

(a) 50 % if the gain is made:

(i) by an individual and neither section 115-105 nor 115-110 (about foreign or temporary residents) applies to the gain; or

(ii) by a trust (other than a trust that is a * complying superannuation entity) and section 115-120 (about foreign or temporary residents) does not apply to the gain; or

(b) 33 ⅓ % if the gain is made:

(i) by a complying superannuation entity; or

(iia) (Repealed by No 70 of 2015)

(ii) by a * life insurance company from a * CGT asset that is a * complying superannuation asset; or

(c) the percentage resulting from section 115-115 if section 115-105 or 115-110 applies to the gain; or

(d) the percentage resulting from section 115-120 if that section applies to the gain; or

(e) the percentage resulting from section 115-125 if that section applies to the gain.