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Income tax: capital gains: if section 160ZZT applies to a shareholder in respect of the disposal of pre-CGT shares in a private company, how is the deemed capital gain determined?

Taxation Determination TD 92/149 is withdrawn with effect from today.

TD 92/149 deals with how to calculate a capital gain under section 160ZZT of the Income Tax Assessment Act 1936.

This issue is now dealt with in draft Taxation Ruling TR 2004/D6 which issues today.

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