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23 Nov 06 Consolidation and 'applicable functional currency' - TD 2006/D45

This draft Taxation Determination was released on 22 November 2006 for public comment by 12 January 2007. Its full title is "Income tax: is the 'applicable functional currency' for the head company of a consolidated group determined by looking at the 'accounts' of all the members of the consolidated group, for the purposes of item 1 of s 960-60(1) of the Income Tax Assessment Act 1997?" The answer given is Yes.

For a copy of TD 2006/D45, go here

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