Income tax: capital gains: section 160A and subsections 160M(6) and 160M(7) of the Income Tax Assessment Act 1936 were amended by Taxation Laws Amendment Act (No 4) 1992 with effect from 25 June 1992. Are there any CGT consequences arising from the transfer of section 80G or section 160ZP losses after that date?

Taxation Determination 93/120 is withdrawn with effect from today.

The law relating to the CGT treatment of subvention payments has been clarified by amendments to subsections 160ZP(11) and (12). The amendments apply to the 1996/97 and later income years. This Determination considers the CGT treatment for subvention payments prior to these amendments. It is considered that this Taxation Determination is no longer necessary.