Taxation Determination

TD 93/180A1 - Addendum

Income tax: capital gains: how is the removal of a building from a block of land that does not amount to a loss or destruction, treated for CGT purposes?

This Addendum amends Taxation Determination TD 93/180 to reflect the rewritten capital gains tax provisions in Part 3-1 of the Income Tax Assessment Act 1997.

Addendum

TD 93/180 is amended as follows:

1. Paragraph 1

Omit 'is not a disposal of any asset because, at that time, there is no change in ownership of either the land or the building'; substitute 'does not result in any CGT event happening'.

2. Paragraph 2

Omit 'subsection 160ZH(12) of the Income Tax Assessment Act 1936'; substitute 'section 112-25 of the Income Tax Assessment Act 1997'.

3. Example

Omit the Example.

4. Related Determinations

Omit 'TD 93/79;'.

5. Subject References

Omit the subject references; insert 'CGT cost base modification apportionment rule; CGT events'.

6. Legislative References

Omit 'ITAA 160ZH(12)'; substitute 'ITAA 1997 112-25'.

This Addendum applies from 14 September 2006, the date of effect of the repeal of the former capital gains tax provisions in Part IIIA of the Income Tax Assessment Act 1936 by Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006.

Commissioner of Taxation
21 April 2010

References

ATO references:
NO 2006/20258

ISSN 1038 - 8982