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20 May 1010 3 Addenda issued

On 19 May 2010, the ATO issued the following Addenda:

  • TD 96/19A1 - Income tax: capital gains: if a person (A): * improves a pre-CGT asset to which s 108-70(2) of the ITAA 1997 applies; and * disposes of the improved asset to A's spouse (B) under an order of the Court under the Family Law Act 1975 following marriage breakdown, how does s 126-5 of that Act apply: (i) to the disposal of the improved asset by A; and (ii) to any later disposal of the improved asset by B?
  • TD 96/21A1 - Income tax: capital gains: if after 19 September 1985 a taxpayer makes a capital improvement to a pre-CGT principal residence, and the improvement is deemed to be a separate asset under s 160P(6) of ITAA 1936 , is a disposal of that asset subject to the exemption for a principal place of residence?
  • TD 97/3A1 - Income tax: capital gains: if a parcel of land acquired after 19 September 1985 is subdivided into lots ('blocks'), does Part IIIA of ITAA 1936 treat a disposal of a block of the subdivided land as the disposal of part of an asset (the original land parcel) or the disposal of an asset in its own right (the subdivided block)?


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