Taxation Determination TD 95/47







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). | 1. A capital loss of a deceased taxpayer may be offset against any capital gain of the taxpayer in his or her final individual income tax return. Any unrecouped net capital loss lapses on the death of the taxpayer. | 2. This (unrecouped) net capital loss cannot be: | Commissioner of Taxation 30/8/95 | Previously issued as Draft TD 93/D292


Related rulings: TD 95/46 IT 2622
Legislative references: ITAA Pt IIIA
Subject references: date of death deceased estates losses unrecouped net capital losses