Taxation Determination

TD 93/38

Income tax: capital gains: does section 160X of the Income Tax Assessment Act 1936 apply to assets acquired by a legal personal representative which were not owned by the deceased at the date of death?

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FOI status:

may be releasedFOI number: I 1214346

This Determination, to the extent that it is capable of being a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953 , is a public ruling for the purposes of that Part. Taxation Ruling TR 92/1 explains when a Determination is a public ruling and how it is binding on the Commissioner. Unless otherwise stated, this Determination applies to years commencing both before and after its date of issue. However, this Determination does not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before the date of issue of the Determination (see paragraphs 21 and 22 of Taxation Ruling TR 92/20).

1. No. The roll-over relief provided by section 160X of the Income Tax Assessment Act 1936 only applies to assets owned by a person at the time of the death of that person.

2. Section 160X applies where an asset which formed part of the estate of the deceased passes to a legal personal representative. In the context of the section, we consider that this refers only to assets owned by the deceased at the time of death.

Commissioner of Taxation

Previously issued as Draft TD 93/D3


ATO references:
NO 92/1427-5 (CGTDET36)

ISSN 1038 - 8982

Related Rulings/Determinations:

TD 93/37
TD 93/36
TD 93/35
IT 2664

Subject References:
CGT asset
deceased estates;
legal personal representative

Legislative References:

TD 93/38 history
  Date: Version: Change:
You are here 11 March 1993 Original ruling  
  22 June 2005 Withdrawn