Legislation

ITAA 1936 s 118-45 and 330-60 of the 1997 Act, to which this Determination refers, express the same ideas, respectively, as paragraph 23(pa) and subsection 160L(7)

ATO documents that consider ITAA 1936 s 118-45 and 330-60 of the 1997 Act, to which this Determination refers, express the same ideas, respectively, as paragraph 23(pa) and subsection 160L(7)

1 document

TD 1999/D47 (Finalised)replacedTD · 1999

Income tax: capital gains: if a genuine prospector sells shares received as proceeds from the sale of rights to mine:[bull ] is any ordinary income derived from the sale of the shares exempt under section 330-60 of the Income Tax Assessment Act 1997; or [bull ] is any capital gain (or capital loss) made on the sale of the shares disregarded under section 118-45?