Income tax: capital gains: for the 1997-98 income year:
- what is the indexation factor for section 160P (major capital improvements to pre-CGT assets) of the Income Tax Assessment Act 1936; and
- what is the associated indexed cost base threshold?
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 releasedFOI number: I 1015371
|This Determination, to the extent that it is capable of being a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953 , is a public ruling for the purposes of that Part. Taxation Ruling TR 92/1 explains when a Determination is a public ruling and how it is binding on the Commissioner. Unless otherwise stated, this Determination applies to years commencing both before and after its date of issue. However, this Determination does not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before the date of issue of the Determination (see paragraphs 21 and 22 of Taxation Ruling TR 92/20).|
- the factor ascertained in accordance with subsection 160Q(3) (as affected by subsection 160Q(6)) is 1.020; and
- the amount to be substituted in subparagraph 160P(6)(c)(ii) for improvements to which subsection 160P(6) applies is $89,992.
Commissioner of Taxation
4 June 1997
NO NAT 94/3384-8; 95/4025-3
© 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).