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This edited version has been archived due to the length of time since original publication. It should not be regarded as indicative of the ATO's current views. The law may have changed since original publication, and views in the edited version may also be affected by subsequent precedents and new approaches to the application of the law.

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Edited version of your written advice

Authorisation Number: 1051423836674

Date of advice: 31 August 2018

Ruling

Subject: Date of acquisition for CGT.

Question

Was the land acquired prior to Capital Gains tax, 20 September 1985?

Answer

Yes. The Commissioner is satisfied that you acquired the property on 1 October 19XX.

This ruling applies for the following period:

30 June 20XX

The scheme commences on:

1 July 20XX

Relevant facts and circumstances

Minutes of Meeting dated x October 19xx state the property is to be transferred to you.

Your balance sheet dated xx June 19xx shows the property as an asset.

The property was formally transferred to you in 19xx.

You sold the property xx September 20xx.

Relevant legislative provisions

Income Tax Assessment Act 1997 subdivision 109-5(1)