The commentary below considers the exposure of trustees in bankruptcy to tax on capital gains. For an overview of the taxation of capital gains generally, see C1.101.
Capital gains tax treatment of assets in bankruptcy—general rule
In relation to assets held by a trustee or assignee in bankruptcy or under a deed of arrangement, the capital gains provisions apply as if1:
- Ìý
•ÌýÌýÌýÌý the assets were vested in the bankrupt or debtor, and
- Ìý
•ÌýÌýÌýÌý the acts of the trustee or assignee in relation to the assets were the acts of the bankrupt or debtor
Therefore, acquisitions from2, or disposals
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