Capital Gains: How are insurance policy proceeds treated when received in respect of lost or destroyed assets?

TD 31 examines the treatment of insurance policy proceeds received in respect of the loss or destruction of an asset for capital gains tax purposes.

The issue in TD 31 is now addressed in Example 1 of subsection 118-300(1) of the Income Tax Assessment Act 1997.

Accordingly, TD 31 is no longer current and is therefore withdrawn.