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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 108 - CGT assets  

Subdivision 108-D - Separate CGT assets  

Operative provisions

SECTION 108-60  

108-60  Depreciating asset that is part of a building is a separate asset  

 View history reference ITAA 36
A *depreciating asset that is part of a building or structure is taken to be a separate *CGT asset from the building or structure.

Example:

You own a factory from which you carry on a business. You install rest rooms for your employees. The plumbing fixtures and fittings are depreciating assets. These are taken to be a separate CGT asset from the factory.


 



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