Taxation Ruling

IT 121H - Notice of Archival

Section 26AAA - property transactions arising from liquidation

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FOI status:

may be released

Notice of Archival

Taxation Ruling IT 121 is no longer current and has been archived.

The ruling is about former section 26AAA of the Income Tax Assessment Act 1936. Section 26AAA included in assessable income any profit from selling property that was bought within the previous 12 months. The section applied to property that was sold before 26 May 1988. The section was repealed in 1994.

Commissioner of Taxation
8 May 1996

References

ATO references:
NO NAT 96/1465-6

ISSN 0813-3662

Related Rulings/Determinations:

IT 121

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