Taxation Determination
TD 1999/46
Income tax: capital gains: is there roll-over under section 126-5 or 126-15 of the Income Tax Assessment Act 1997 if a CGT event happens because of a maintenance agreement registered under section 86 of the Family Law Act 1975?
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FOI status:
may be releasedFOI number: I 1020661| Preamble |
| This Taxation Determination is a 'public ruling' for the purposes of Part IVAAA of the Taxation Administration Act 1953 and is legally binding on the Commissioner. Taxation Rulings TR 92/1 and TR 97/16 together explain when a Determination is a public ruling and how it is legally binding on the Commissioner. |
| Date of Effect |
| 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 settlement of a dispute agreed to before the date of the Determination (see paragraphs 21 and 22 of Taxation Ruling TR 92/20). |
1. No. Maintenance agreements registered under section 86 of the Family Law Act 1975 (FLA 1975) do not come within the expression 'a court order' in paragraphs 126-5(1)(a) and 126-15(1)(a) of the Income Tax Assessment Act 1997 (ITAA 1997). Nor do they come within the words 'a maintenance agreement approved by a court under section 87' of the FLA 1975 in paragraphs 126-5(1)(b) and 126-15(1)(b) of the ITAA 1997.
Commissioner of Taxation
3 November 1999
Previously issued in draft form as TD 1999/D72
References
ATO references:
NO 99/19509-6
BO CGT marriage breakdown summit 1999
Subject References:
CGT event
court order
maintenance agreement
roll-over
Legislative References:
ITAA 1997 126-5
ITAA 1997 126-5(1)(a)
ITAA 1997 126-5(1)(b)
ITAA 1997 126-15
ITAA 1997 126-15(1)(a)
ITAA 1997 126-15(1)(b)
FLA 86
FLA 87
| Date: | Version: | Change: | |
| You are here | 3 November 1999 | Original ruling | |
| 8 September 2004 | Withdrawn |