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Taxation Determination

TD 95/8

Income tax: capital gains: can a subsection 160ZZQ(11A) election made for the purposes of subsection 160ZZQ(11) of the Income Tax Assessment Act 1936 cover more than one period of absence from a taxpayer's sole or principal residence (SPR)?

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FOI status:

may be releasedFOI number: I 1016053

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. Yes. It is not necessary to make a separate election for each period of absence.

2. If a taxpayer has more than one period of absence from a SPR, the election may (at the taxpayer's option) specify any one or more (including all) of the periods of absence.

Example:

June's post CGT dwelling ceases to be her SPR and she rents it for two years. She later re-occupies the dwelling for four years, rents it for a further three years, then sells the dwelling.
Provided June satisfies the other requirements in subsection 160ZZQ(11), she only needs to make one election under subsection 160ZZQ(11A) to treat the dwelling as her SPR for the separate periods of absence.

Commissioner of Taxation
20/4/95

Previously issued as Draft TD 94/D98

References

ATO references:
NO CGT CELL PRE (CGTDET16); NAT 94/6257-1

ISSN 1038 - 8982

Related Rulings/Determinations:

TD 95/9

Subject References:
elections;
period of absence;
principal residence

Legislative References:
ITAA 160ZZQ(11)
ITAA 160ZZQ(11A)

TD 95/8 history
  Date: Version: Change:
You are here 20 April 1995 Original ruling  
  21 April 2010 Withdrawn  

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