Income tax: capital gains: when are shares acquired, and instalments paid, under the Commonwealth Bank of Australia (CBA) and Telstra public share offers?

Taxation Determination TD 98/11 is withdrawn with effect from today.

Following the decision in Dolby v Federal Commissioner of Taxation [2002] FCA 1065, the Commissioner accepts that TD 98/11 is incorrect.

The Federal Court held that indexation of the first and final instalment amounts is available from the date the shares were allocated to an investor.