INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 115 - Discount capital gains and trusts ' net capital gains  

Subdivision 115-B - Discount percentage  

SECTION 115-100   115-100   What is the discount percentage for a discount capital gain  


The discount percentage for an amount of a *discount capital gain is:


(a) 50% if the gain is made:


(i) by an individual and neither section 115-105 nor 115-110 (about foreign or temporary residents) applies to the gain; or

(ii) by a trust (other than a trust that is a *complying superannuation entity) and section 115-120 (about foreign or temporary residents) does not apply to the gain; or


(b) 33 1/3 % if the gain is made:


(i) by a complying superannuation entity; or

(iia) (Repealed by No 70 of 2015)

(ii) by a *life insurance company from a *CGT asset that is a *complying superannuation asset; or


(c) the percentage resulting from section 115-115 if section 115-105 or 115-110 applies to the gain; or


(d) the percentage resulting from section 115-120 if that section applies to the gain.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.