Taxation Determination

TD 92/116W

Income tax: capital gains: when is the grant of the deemed option in paragraph 160ZZC(12)(a) taken to have occurred?

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FOI status:

may be releasedFOI number: I 1212838

Notice of Withdrawal

Taxation Determination 92/116 is withdrawn with effect from today.

CGT event H1 in section 104-150 of the Income Tax Assessment Act 1997 considers the CGT consequences when the deposit relating to a prospective purchase or other transaction is forfeited. It clearly states that the time of the event is when the deposit is forfeited. As the the law is expressed clearly it is considered that no further explanation is needed.

Commissioner of Taxation
9 June 1999


ATO references:

ISSN 1038 - 3158

Related Rulings/Determinations:

TD 9

Subject References:
Forfeiture of deposits
prospective purchase or other transactions
grant of deemed option

Legislative References:
ITAA 106ZZC(3)(a)
ITAA 160ZZC(12)
ITAA 160ZZC(12)(a)

TD 92/116W history
  Date: Version: Change:
  16 July 1992 Original ruling  
You are here 9 June 1999 Withdrawn