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1 Are any of the items in your collection collectibles?

No. Question 2 Are you required to declare any capital gains when you sell any of the items? Answer No. Based on the information provided to the Commissioner, the items are not considered to be collectables as described in subsection 108-10(2) of the Income Tax Assessment Act 1997 (ITAA 1997). The items are personal use assets as they are used or kept mainly for your personal use or enjoyment (subsection 108-20(2) of the ITAA 1997). As you have not purchased any of the items for $10,000 or more, any capital gain will be disregarded when you dispose of the items as per subsection 118-10(3) of the ITAA 1997. This ruling applies for the following period : Year ended 30 June 2022 The scheme commences on: 1 July 2021

You have been collecting and using the items for many years. You currently own multiple items. The items have over time all been purchased for the specific purpose of using them. The collection consists of individual items that have been individually purchased and do not comprise a set for the purpose of section 108-25 of the ITAA 1997. The items are typically bought and sold on an individual basis and sourced from different sellers. You acquired the individual items over time by way of purchase from retail sellers, online stores and from swaps with other owners. The cost of the majority of the items has not been recorded. It is normal practice for the items to be individually purchased / traded / swapped over time. You did not pay more than $10,000 for any of the items in the collection. You intend to commence selling off your collection. You are looking at selling several items initially.

Income Tax Assessment Act 1997 subsection 108-10(2) Income Tax Assessment Act 1997 subsection 108-20(2) Income Tax Assessment Act 1997 subsection 118-10(3)