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INCOME TAX ASSESSMENT ACT 1997 - SECT 108.50

What this Subdivision is about

For CGT purposes, there are:

    •    exceptions to the common law principle that what is attached to the land is part of the land; and

    •   special rules about buildings and adjacent land; and

    •    rules about when a capital improvement to a CGT asset is treated as a separate CGT asset.

Note:          In addition to the circumstances set out in this Subdivision, separate asset treatment can apply under section 124-595 (about a roll-over for a Crown lease) and section 124-725 (about a roll-over for a prospecting or mining entitlement).

Table of sections

Operative provisions

108-55      When is a building a separate asset from land?

108-60      Depreciating asset that is part of a building is a separate asset

108-65      Land adjacent to land acquired before 20 September 1985

108-70      When is a capital improvement a separate asset?

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

108-80      Deciding if capital improvements are related to each other

108-85      Meaning of improvement threshold

Operative provisions



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