Taxation Determination

TD 2004/15

Income tax: capital gains: what is the improvement threshold for the 2004-2005 income year under section 108-85 of the Income Tax Assessment Act 1997?

  • Please note that the PDF version is the authorised version of this ruling.
    This document has changed over time. View its history.

FOI status:

may be released

Preamble
The number, subject heading, date of effect and paragraph 1 of this document are a 'public ruling' for the purposes of Part IVAAA of the Taxation Administration Act 1953 and are legally binding on the Commissioner.

1. For the 2004-2005 income year, the improvement threshold is $106,882.

2. The improvement threshold is determined for the purposes of section 108-70 (about when a capital improvement to a pre-CGT asset is a separate asset) and section 108-75 (about capital improvements to CGT assets for which a roll-over may be available).

3. The improvement threshold is required by subsection 108-85(2) to be indexed annually in accordance with Subdivision 960-M.

4. This Taxation Determination is published, as subsection 108-85(3) requires, before the 2004-2005 financial year begins.

Date of effect

5. This Determination applies for the 2004-2005 income year.

Commissioner of Taxation
26 May 2004

Not previously released in draft form.

References

ATO references:
NO 2004/6081

ISSN: 1038-8982

Related Rulings/Determinations:

TR 92/1
TR 97/16
TD 94/56
TD 95/23
TD 96/30
TD 97/12
TD 98/13
TD 1999/29
TD 2000/25
TD 2001/12
TD 2002/12
TD 2003/13

Subject References:
asset improvement
capital gains
improvement
improvement threshold
indexation
threshold

Legislative References:
ITAA 1997 108-70
ITAA 1997 108-75
ITAA 1997 108-85
ITAA 1997 108-85(2)
ITAA 1997 108-85(3)
ITAA 1997 Subdiv 960-M

TD 2004/15 history
  Date: Version: Change:
You are here 26 May 2004 Original ruling  
  18 May 2016 Withdrawn  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).