Private ruling: Date of acquisition for CGT.
Date of advice: 31 August 2018
Published: October 2018
Ruling period: 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Was the land acquired prior to Capital Gains tax, 20 September 1985? | A1: Yes. The Commissioner is satisfied that you acquired the property on 1 October 19XX .

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)