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?
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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 formPreamble
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
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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