Income tax: capital gains: what is the improvement threshold for the 2004-2005 income year under section 108-85 of the Income Tax Assessment Act 1997?
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FOI status:may be released
|The number, subject heading, date of effect and paragraph 1 of this document are a 'public ruling' for the purposes of Part IVAAA of the Taxation Administration Act 1953 and are legally binding on the Commissioner.|
2. The improvement threshold is determined for the purposes of section 108-70 (about when a capital improvement to a pre-CGT asset is a separate asset) and section 108-75 (about capital improvements to CGT assets for which a roll-over may be available).
Date of effect
Commissioner of Taxation
26 May 2004
Not previously released in draft form.