Which of the following statements is true?
A)Capital gains tax applies only to gains on assets acquired on or after 21 September 1999.
B)Capital gains tax for all assets sold (assuming they realise capital gains)after 11.45am on 21 September 1999 must be determined using the discount method.
C)Only resident individual investors can claim imputation tax credits.
D)None of the given options.

Question

Quizplus · Accepted Answer

The statements provided contain inaccuracies regarding the application of capital gains tax and the eligibility for imputation tax credits. Capital gains tax can apply to assets acquired before 21 September 1999, but different calculation methods may be used. The discount method for calculating capital gains tax is not the only method available for assets sold after 21 September 1999; other methods can also apply depending on specific circumstances. Imputation tax credits are not exclusively available to resident individual investors; companies and other entities can also be eligible under certain conditions.

Which of the Following Statements Is True