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Edited version of your written advice
Authorisation Number: 1051431326127
Date of advice: 8 October 2018
Ruling
Subject: Capital gains tax (CGT) – CGT event A1 - timing
Did CGT event A1 happen on DD/MM/YYYY?
Answer
Yes. CGT event A1 happened when you entered into the contract to dispose of the CGT asset.
This ruling applies for the following period
Financial year ended 30 June 20XX
The scheme commenced on
1 July 20XX
Relevant facts and circumstances
You owned a CGT asset, being an investment in a trust fund.
On DD/MM/YYYY you sent a withdrawal instruction to the fund manager.
The fund manager advised in writing that they received your request on DD/MM/YYYY and that your request was acted upon on that day.
Due to their policies the fund’s records show the transaction as having an effective date of the next business day.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 104-10
Income Tax Assessment Act 1997 subsection 104-10(3)
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