Joint Submission by the Taxation Institute of Australia, the Institute of Chartered Accountants in Australia, the Australian Society of CPAs, and the Australian Taxpayers Association on TD1999/D89Income tax capital gains: is the Commonwealth or a State or Territory an entity for thepurposes of CGT even D1 (about creating contractual or other rights in you) in sections 104-35and 109-5 of the Income Tax Assessment Act 1997? RESPONSE: Our reading of the legislation suggests that the ATO have answered correctly. ie that 960-100ITAA 97 will define an entity to include a Commonwealth, State or Territory Government. However, the application of the CGT provisions as described in the example provided does raise some questions.
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