Commonwealth 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