Income tax: capital gains: what is the improvement threshold for the 2002-2003 income year under section 108-85 of the Income Tax Assessment Act 1997 ?
Please note that the PDF version is the authorised version of this ruling.This document has changed over time. View its history.
FOI status:may be released
|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 2002/2003 income year.|
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).
Commissioner of Taxation
29 May 2002
Not previously released in draft form.