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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

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

Division 115 - Discount capital gains and trusts' net capital gains    View history reference

Subdivision 115-B - Discount percentage    View history reference

SECTION 115-100  

115-100  What is the discount percentage for a discount capital gain  

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The 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
 View history reference


(b) 331/3% 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(iia) (Repealed by No 70 of 2015)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
 View history reference


(c) the percentage resulting from section 115-115 if section 115-105 or 115-110 applies to the gain; or
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(d) the percentage resulting from section 115-120 if that section applies to the gain.
 View history reference


 



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