Edited version of private advice

Authorisation Number: 1052373014910

Date of advice: 20 March 2025

Ruling

Subject: CGT - asset

Question 1

Will the disposal of personalised number plates be disregarded under subsection 108-20(3) of the Income Tax Assessment Act 1997 (ITAA 1997) as a personal use asset acquired for under $10,000?

Answer 1

Yes.

The number plate satisfies the definition of a personal use asset. The number plate was used or kept due to its significance to you and your family. You did not use or keep the number plate for any business purpose. You acquired your interest in the number plate for an amount less than the personal use asset threshold.

This ruling applies for the following period:

Year ended XX XX 20XX

The scheme commenced on:

XX XX 20XX

Relevant facts and circumstances

This private ruling is based on the facts and circumstances set out below. If your facts and circumstances are different from those set out below, this private ruling has no effect and you cannot rely on it. The fact sheet has more information about relying on your private ruling.

A number plate was first issued to your relative in 19XX as part of the registration process. No amount of money was paid for the plates during the registration process.

The plates were used by them personally until their passing.

The number plate was then inherited by the deceased's spouse and following their passing inherited by subsequent family members.

No amount of money was exchanged for the plates each time it was subsequently inherited.

Each time the number plates were inherited they were transferred either with the motor vehicle they were attached to or transferred and applied directly to the new recipient's vehicle and used immediately on-road.

In XX 20XX you inherited the personalised number plate as the beneficiary of a deceased estate.

You registered the plate on your personal motor vehicle immediately following the inheritance. Later you transferred the plate to a new personal motor vehicle in 20XX until the plate was sold.

The plates were always used as intended on regular motor vehicles which were registered and driven on a day-to-day basis.

The plates were always attached to a motor vehicle which was registered and used as a regular vehicle on the road.

The plates were never purchased or used in a manner to be able to generate money due to increased value.

On XX XX 20XX you sold the number plates.

The plates have never been stored separately, displayed, or treated as a collectable item.

Relevant legislative provisions

Income Tax Assessment Act 1997 section 108-20

Income Tax Assessment Act 1997 section 118-10