Taxation Determination

TD 97/12

Income tax: capital gains: for the 1997-98 income year:

what is the indexation factor for section 160P (major capital improvements to pre-CGT assets) of the Income Tax Assessment Act 1936; and
what is the associated indexed cost base threshold?

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FOI status:

may be releasedFOI number: I 1015371

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. For the 1997-98 income year:

the factor ascertained in accordance with subsection 160Q(3) (as affected by subsection 160Q(6)) is 1.020; and
the amount to be substituted in subparagraph 160P(6)(c)(ii) for improvements to which subsection 160P(6) applies is $89,992.

2. This Determination is the written notice for the 1997-98 income year that subsection 160Q(7) requires the Commissioner of Taxation to publish before the relevant income year begins.

Commissioner of Taxation
4 June 1997


ATO references:
NO NAT 94/3384-8; 95/4025-3

ISSN: 1038-8982

Related Rulings/Determinations:

TD 94/56
TD 95/23
TD 96/30

Subject References:
asset improvement

Legislative References:
ITAA 160P(6)
ITAA 160P(6)(c)(ii)
ITAA 160Q(3)
ITAA 160Q(6)
ITAA 160Q(7)

TD 97/12 history
  Date: Version: Change:
You are here 4 June 1997 Original ruling  
  27 April 2016 Withdrawn