What is the legislation to back up the availability of the 50% CGT discount in Australia?
November 3, 2009 | Posted by Rajendrasinh Padhiar 
Suzy K asked:
I know that assets held for longer than 12 months and sold after 21 Sep 99 are entitled to the 50% CGT discount. Where in the legislation does it say this? In particular, in the ITAA 1997? I have looked everywhere and I cannot find it.
I know that assets held for longer than 12 months and sold after 21 Sep 99 are entitled to the 50% CGT discount. Where in the legislation does it say this? In particular, in the ITAA 1997? I have looked everywhere and I cannot find it.
Categories: Australia | 
Tags: 12 Months, Itaa 1997, Legislation | 
1 Comment »
Scroll through Division 115 of the ITAA1997-%20SPECIALIST%20LIABILITY%20RULES%3APART%203-1%20-%20CAPITAL%20GAINS%20AND%20LOSSES%26c%20GENERAL%20TOPICS%3ADivision%20115%20-%20Discount%20capital%20gains%20and%20trusts’%20net%20capital%20gains%3ASubdivision%20115-A%20-%20Discount%20capital%20gains%3AWhat%20is%20a%20discount%20capital%20gain%3F%3A%2300001%23SECTION%20115-5%20What%20is%20a%20discount%20capital%20gain%20%3F%3B
in particular, section 115-25:=’PAC/19970038/115-25′#115-25