Income tax: capital gains: does roll-over relief apply if there is a capital loss following the loss, destruction of, or damage to, an asset acquired after 19 September 1985?

Taxation Determination TD 15 is withdrawn with effect from today.

The Income Tax Assessment Act 1997 makes it clear there are no rollover consequences if there is a capital loss in the circumstances outlined above (subsection 124-70(1), Note 1). There is no material change from the views that were expressed in TD 15.