Taxation Determination

TD 2001/12

Income tax: capital gains: what is the improvement threshold for the 2001-2002 income year under section 108-85 of the Income Tax Assessment Act 1997?

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FOI status:

may be releasedFOI number: I 1024255

The number, subject heading, date of effect and paragraph 1 of this Taxation Determination are a 'public ruling' for the purposes of Part IVAAA of the Taxation Administration Act 1953 and are legally binding on the Commissioner. The remainder of the Determination is administratively binding on the Commissioner. Taxation Rulings TR 92/1 and TR 97/16 together explain how a Determination is legally or administratively binding.
Date of effect
This Determination applies for the 2001- 2002 income year.

1. For the 2001- 2002 income year, the improvement threshold is $97,721.

2. The improvement threshold is determined for the purposes of section 108-70 (about when a capital improvement to a pre-CGT asset is a separate asset) and section 108-75 (about capital improvements to CGT assets for which a roll-over may be available)

3. The improvement threshold is required by subsection 108-85(2) to be indexed annually in accordance with Subdivision 960-M.

4. This Determination is published, as subsection 108-85(3) requires, before the 2001-2002 financial year begins.

Commissioner of Taxation
13 June 2001

Not previously issued in draft form


ATO references:
NO 95/4025-3

ISSN: 1038-8982

Related Rulings/Determinations:

TR 92/1
TR 97/16
TD 94/56
TD 95/23
TD 96/30
TD 97/12
TD 98/13
TD 1999/29
TD 2000/25

Subject References:
asset improvement
capital gains
improvement threshold

Legislative References:
ITAA 1997 108-70
ITAA 1997 108-75
ITAA 1997 108-85
ITAA 1997 108-85(2)
ITAA 1997 108-85(3)
ITAA 1997 Subdivision 960-M

TD 2001/12 history
  Date: Version: Change:
You are here 13 June 2001 Original ruling  
  11 May 2016 Withdrawn