Income tax: capital gains: what is the improvement threshold for the 2003-2004 income year under section 108-85 of the Income Tax Assessment Act 1997?
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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.|
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).
Date of effect
Commissioner of Taxation
21 May 2003
Not previously issued in draft form