Draft Taxation Determination

TD 1999/D72

Income tax: capital gains: is there roll-over under section 126-5 or 126-15 of the Income Tax Assessment Act 1997 if a CGT event happens because of a maintenance agreement registered under section 86 of the Family Law Act 1975?

  • Please note that the PDF version is the authorised version of this draft ruling.
    This document has been finalised by TD 1999/46.

FOI status:

Not previously released in draft form

Preamble

Draft Taxation Determinations (DTDs) present the preliminary, though considered, views of the Australian Taxation Office. DTDs should not be relied on; only final Taxation Determinations represent authoritative statements by the Australian Taxation Office.

1. No. Maintenance agreements registered under section 86 of the Family Law Act 1975 (FLA 1975) do not come within the expression 'a court order' in paragraphs 126-5(1)(a) and 126-15(1)(a) of the Income Tax Assessment Act 1997 (ITAA 1997). Nor do they come within the words 'a maintenance agreement approved by a court under section 87' of the FLA 1975 in paragraphs 126-5(1)(b) and 126-15(1)(b) of the ITAA 1997.

Your comments

2. We invite you to comment on this Draft Taxation Determination. We are allowing 4 weeks for comments before we finalise the Determination. If you want your comments considered, please provide them to us within this period.

Comments by Date: 15 September 1999
Contact officer details have been removed following publication of the final ruling.

Commissioner of Taxation
18 August 1999

References

ATO references:
NO 99/19509-6
BO CGT marriage breakdown summit 1999

ISSN 1038 - 8982

Subject References:
CGT event
court order
maintenance agreement
roll-over

Legislative References:
ITAA 1997 126-5
ITAA 1997 126-5(1)(a)
ITAA 1997 126-5(1)(b)
ITAA 1997 126-15
ITAA 1997 126-15(1)(a)
ITAA 1997 126-15(1)(b)
FLA 1975 86
FLA 1975 87

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