Taxation Determination TD 93/180







[ Note: This is a consolidated version of this document. Refer to the Tax Office Legal Database (http://law.ato.gov.au) to check its currency and to view the details of all changes.] | 1. The removal of a building from a block of land does not result in any CGT event happening. Rather, the original asset has been split into two separate assets (the land and the building). | 2. In the event of a subsequent separate disposal of the land and building, the respective cost bases are determined in accordance with section 112-25 of the Income Tax Assessment Act 1997 . That is, where the original asset was acquired post-CGT, its cost base immediately before the removal is apportioned between the split assets. | Commissioner of Taxation 9/9/93 | Previously issued as Draft TD 93/D75


Related rulings: TD 7 TD 93/181 TD 93/182 TD 93/183 TD 93/184
Legislative references: ITAA 1997 112-25
Subject references: CGT cost base modification apportionment rule CGT events