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1 Is a portion of the land at the Property, known as the Access block and being the lot formerly in 1 DP X (DP1/X), at the Property, a separate CGT asset to the part formerly in 2 DP X (DP2/X).

Yes. A CGT event did not occur when lots DP 1/X and DP 2/X were amalgamated to become lot 1 of DP Y (DP 1/Y). DP 1/Y is a Not In Common Ownership title (NICO) title. For more information, go to our website and search for Taxation Determination TD 2000/31 Income tax: capital gains: if you own an interest in a CGT asset and you acquire another interest in that asset, do the interests remain separate CGT assets for capital gains purposes or do they become a single asset? See also ATO Interpretive Decision 2005/367 Income Tax: Capital Gains Tax: not in common ownership - plan of consolidation . Question 2 Is the first element of the cost base of the Access Block, the part formerly in DP1/X, its market value calculated as at the date that the Deceased passed away? Answer Yes. The Deceased acquired the Access block before 20 September 1985. The NICO title of DP 1/Y recognises that the Deceased continued their sole ownership of the portion of land formerly in DP 1/X. This ruling applies for the following period Year ended 30 June 20XX The scheme commenced on: 1 July 20XX

The Deceased passed away on DD MM 20XX. As at date of death, the Deceased had sole ownership of DP 1/Y known as The Property. The Deceased purchased the land formerly in DP 1/X prior to 20 September1985 as the sole owner. After 20 September 1985, the Deceased and Person A purchased the land formerly in DP 2/X as tenants in common in equal shares. On or around DD MM 19XX, the lots formerly in DP1/X and DP 2/X were consolidated into the NICO title DP 1/Y. The owners are described as " The Deceased of the part formerly in DP 1/X and The deceased & Person A as TIC in equal shares of the part formerly in DP 2/X ." DP 1/Y is a NICO title. The Title comprises separate lots: the part formerly in DP 1/X , being the pre-CGT asset, and the part formerly in DP 2/X, being the post CGT asset. Person A passed away on DD MM 202XX, Person A's Will granted their 50 % legal interest share in the part formerly in DP 2/X to be passed to the Deceased. The Property was sold on or around MM 20XX

Income Tax Assessment Act 1997 section 104-10 Income Tax Assessment Act 1997 section 104-10(2)(a) Income Tax Assessment Act 1997 section 128 -15(4).