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22 Aug 08 Joint submission on TDs 2008/D9-D11, Straddle contracts paper

On 15 August 2008, a joint submission in respect of the following was lodged with the ATO on behalf the Institute of Chartered Accountants in Australia, the National Institute of Accountants, the Taxation Institute of Australia, CPA Australia and Taxpayers Australia:

  • Draft Taxation Determinations TD 2008/D9:Income tax: consolidation: capital gains: do the core consolidation rules in Division 701 of ITAA1997 modify the effect of the CGT contract rules if an entity contracts to buy or sell a CGT asset and the contract settles after the entity becomes, or ceases to be, a member of a consolidated group?
  • Draft Taxation Determinations TD 2008/D10:Income tax: consolidation: capital gains: for the purposes of Part 3-90 of ITAA 1997, is the CGT asset that an entity has contracted to buy from another taxpayer an asset of the entity at a time it joins or leaves a consolidated group, if the contract is not completed at that time?
  • Draft Taxation Determinations TD 2008/D11:Income tax: consolidation: capital gains: for the purposes of Part 3-90 of ITAA 1997, is the CGT asset that an entity has contracted to sell to another taxpayer an asset of the entity at a time it joins or leaves a consolidated group, if the contract is not completed at that time?
  • ATO Technical Discussion Paper:  Treatment of assets identified in relation to straddle contracts.
For a copy of the joint submission, go here

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