Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:2_2:p4
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 2 cl 2 (pt 4/14)
Character Range: 726114–728767

in subsection 160ZC(4A) of the Income Tax Assessment Act 1936 in the same way as it applies to a net capital loss referred to in subsection 102‑5(2) of the Income Tax Assessment Act 1997.

Note: This provision covers the case where the net capital loss was for the 1997‑98 income year or an earlier one and the payment in respect of the debt was made in the 1998‑99 income year or a later one.

Division 108—CGT assets

Table of Subdivisions

108‑A What a CGT asset is

108‑B Collectables

108‑D Separate CGT assets

Subdivision 108‑A—What a CGT asset is

108‑5  CGT assets

  If:

 (a) an entity owned a thing that is not a form of property before 26 June 1992 and at all times from that day to the start of the entity's 1998‑99 income year; and

 (b) that thing was not, before 26 June 1992, an asset as defined in section 160A of the Income Tax Assessment Act 1936;

any capital gain or capital loss the entity makes from the asset is disregarded.

Subdivision 108‑B—Collectables

108‑15  Sets of collectables

  Section 108‑15 of the Income Tax Assessment Act 1997 does not apply to a collectable you own that you last acquired before 16 December 1995.

Note: That section has special rules for the separate disposal of collectables that are a set.

Subdivision 108‑D—Separate CGT assets

108‑75  Capital improvements to CGT assets for which a roll‑over may be available

 (1) Subsection 108‑75(2) of the Income Tax Assessment Act 1997 applies to a roll‑over under section 160ZWA of the Income Tax Assessment Act 1936 in the same way that it applies to a roll‑over under Subdivision 124‑J of the Income Tax Assessment Act 1997.

 (2) Subsection 108‑75(2) of the Income Tax Assessment Act 1997 applies to a roll‑over under section 160ZZF of the Income Tax Assessment Act 1936 in the same way that it applies to a roll‑over under Subdivision 124‑L of the Income Tax Assessment Act 1997.

 (3) Subsection 108‑75(2) of the Income Tax Assessment Act 1997 applies to a roll‑over under section 160ZZPE of the Income Tax Assessment Act 1936 in the same way that it applies to a roll‑over under Subdivision 124‑C of the Income Tax Assessment Act 1997.

 (4) Subsection 108‑75(2) of the Income Tax Assessment Act 1997 applies to a roll‑over under section 160ZWC of the Income Tax Assessment Act 1936 in the same way that it applies to a roll‑over under Subdivision 124‑K of the Income Tax Assessment Act 1997.

Note: This provision covers the case where the roll‑over occurred in the 1997‑98 income year or an earlier one and the relevant CGT event in the 1998‑99 income year or a later one.

108‑85  Improvement threshold

  Despite