Commonwealth of Australia Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 108.7

                   Individuals who own a * CGT asset as joint tenants are treated as if they each owned a separate CGT asset constituted by an equal interest in the asset and as if each of them held that interest as a tenant in common.

Note:          Section 128-50 contains rules that apply when a joint tenant dies.

Table of sections

108-10      Losses from collectables to be offset only against gains from collectables

108-15      Sets of collectables

108-17      Cost base of a collectable