Submission by the Australian Society of CPAs, the Institute of Chartered Accountants in Australia, the Australian Taxpayers Association and the Taxation Institute of Australia Comments on Draft Taxation Determination TD 1999/D91 Income tax: capital gains: does the expression loss of destruction for the purposes of Capital Gains Tax event C1 in section 104 -20 of the Income Tax Assessment act 1997 apply to:a) A voluntary loss or destruction? b) Intangible assets? The Determination considers the meaning of loss or destruction for the purposes of Sec. 104-20.The view offered is that loss does not contemplate voluntary actions but destruction does contemplate voluntary actions. We agree that this is probably the correct view. Our principal concern with this Ruling is paragraph 5 which reads as follows
maintenance