s 118-10
In forceInterests in collectables
Chapter 3Specialist liability rules
Part 3-1Capital gains and losses: general topics
Division 118Exemptions
Subdivision 118-AGeneral exemptions
118-10 Interests in collectables
(1)
This section applies to a collectable you own that:
(a)
is an interest in:
(i)
artwork, jewellery, an antique or a coin or medallion; or
(ii)
a rare folio, manuscript or book; or
(iii)
a postage stamp or first day cover; and
(b)
you last acquired before 16 December 1995.
(2)
A capital gain or capital loss you make from the interest is disregarded if the first element of its cost base is $500 or less.
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