Income Tax Assessment Act 1997
View history note
Hide history noteThe discount percentage for an amount of a *discount capital gain is:
(a) 50% if the gain is made:
(i) by an individual and neither section 115-105 nor 115-110 (about foreign or temporary residents) applies to the gain; or
(ii) by a trust (other than a trust that is a *complying superannuation entity) and section 115-120 (about foreign or temporary residents) does not apply to the gain; or
(b) 33 ⅓ % if the gain is made:
(i) by a complying superannuation entity; or
(iia) (Repealed by No 70 of 2015)
(ii) by a *life insurance company from a *CGT asset that is a *complying superannuation asset; or
(c) the percentage resulting from section 115-115 if section 115-105 or 115-110 applies to the gain; or
(d) the percentage resulting from section 115-120 if that section applies to the gain; or
(e) the percentage resulting from section 115-125 if that section applies to the gain.
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