TD 93/86A1 - Addendum
Income tax: capital gains: are the totality of rights under a contract considered to be the one asset, or is each right considered to be a separate asset for CGT purposes?
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This Addendum amends Taxation Determination TD 93/86 to reflect the rewritten capital gains tax provisions found in Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997. The Addendum also amends TD 93/86 to correct a typographical error.
This addendum applies from 14 September 2006, the date of effect of the repeal of the former capital gains tax provisions in Part IIIA of the Income Tax Assessment Act 1936 by Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006.
Omit 'Part IIIA of the Income Tax Assessment Act 1936'; substitute 'Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997'.
Omit the word 'contractal'; substitute 'contractual'.
Omit 'ITAA 160A'; substitute 'ITAA 1997 108-5'.
Commissioner of Taxation
14 May 2008