Commonwealth of Australia Consolidated Acts Commonwealth of Australia Consolidated ActsIn working out the * cost base of a * personal use asset, disregard the third element (about the costs of ownership).
Guide to Subdivision 108-D
108-50 What this Subdivision is about
For CGT purposes, there are:
• exceptions to the common law principle that what is attached to the land is part of the land; and
• special rules about buildings and adjacent land; and
• rules about when a capital improvement to a CGT asset is treated as a separate CGT asset.
Note: In addition to the circumstances set out in this Subdivision, separate asset treatment can apply under section 124-595 (about a roll-over for a Crown lease), section 124-725 (about a roll-over for a prospecting or mining entitlement) and sections 124-895, 124-915 and 124-920 (about roll-overs for FSR transitions).
Table of sections
Operative provisions
108-55 When is a building a separate asset from land?
108-60 Depreciating asset that is part of a building is a separate asset
108-65 Land adjacent to land acquired before 20 September 1985
108-70 When is a capital improvement a separate asset?
108-75 Capital improvements to CGT assets for which a roll-over may be available
108-80 Deciding if capital improvements are related to each other
108-85 Meaning of improvement threshold