14 Jun 12 CGT: what is the improvement threshold for 2012-13 under s 108-85? - TD 2012/14
On 13 June 2012, the ATO issued Taxation Determination TD 2012/14 entitled "Income tax: capital gains: what is the improvement threshold for the 2012-13 income year under s 108-85 of ITAA 1997?"
It was not previously released as a draft.
The improvement threshold is determined for the purposes of s 108-70 of ITAA 1997 (about when a capital improvement to a pre-CGT asset is a separate asset). It is also determined for the purposes of s 108-75 of the ITAA 1997 (about capital improvements to CGT assets for which a rollover may be available).
For the 2012-13 income year, the improvement threshold is $134,200.