CGT Determination Number 20

TD 20

Capital Gains: Is there a disposal where assets are transferred on the merger or de-merger of superannuation funds?

This version is no longer current. Please follow this link to view the current version.

  • Please note that the PDF version is the authorised version of this ruling.
    This ruling contains references to repealed provisions, some of which may have been rewritten. The ruling still has effect. Paragraph 32 in TR 2006/10 provides further guidance on the status and binding effect of public rulings where the law has been repealed or repealed and rewritten. The legislative references at the end of the ruling indicate the repealed provisions and, where applicable, the rewritten provisions.
    This document has changed over time. View its history.

FOI status:

may be releasedFOI number: I 1019107

1. Where businesses amalgamate or a business is divided into two or more businesses, members of one superannuation fund may be transferred to another superannuation fund. In these cases, assets can also be transferred to the other superannuation fund.

2. Because there is a change in ownership of the assets transferred from one superannuation fund to the other superannuation fund, there is a disposal for CGT purposes.

Note:
Where there is only a change in the trustee of the superannuation fund, there is no disposal for CGT purposes as there is no change in ownership of the assets (IT2328).

Commissioner of Taxation
31 October 1991

References

ATO references:
NO CGT Cell

ISSN 1037 - 1419

Subject References:
Transfer of assets;
Superannuation fund mergers & de-mergers

Legislative References:
160M

TD 20 history
  Date: Version: Change:
  31 October 1991 Original ruling  
You are here 29 November 2006 Original ruling + note Repeal provision note
  18 March 2009 Withdrawn  

Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).