Capital Gains Tax Determination
Income tax: capital gains: does roll-over relief apply if there is a capital loss following the loss, destruction of, or damage to, an asset acquired after 19 September 1985?
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FOI status:may be released
Notice of Withdrawal
The Income Tax Assessment Act 1997 makes it clear there are no rollover consequences if there is a capital loss in the circumstances outlined above (subsection 124-70(1), Note 1). There is no material change from the views that were expressed in TD 15.
Commissioner of Taxation
10 March 1999