Published on 01 Aug 99
by THE TAX INSTITUTE
Joint submission by the Institute of Chartered Accountants in Australia, the Taxation Institute of Australia, the Australian Society of CPAs and the Australian Taxpayers Association. Draft Tax Determination TD 1999/D35. 140ZO(2) simply requires the capital value to be determined in accordance with a method determined by the ATO in writing (TD 97/21 outlines the method determined by the ATO) - it doesn't say that the market value, etc of the fund assets must be used.Therefore this determination would be best issued as an appendix to TD 97/21.
TAX POLICY & RESEARCH DIVISION
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