Skip to main content
shopping_cart

Your shopping cart is empty

Final Submission: TD 1999/D89, 92, 93, 95, 96

Published on 01 Oct 99 by THE TAX INSTITUTE

Joint Submission by the Taxation Institute of Australia, the Institute of Chartered Accountants in Australia, the Australian Society of CPAs, and the Australian Taxpayers Association on TD1999/D89Income tax capital gains: is the Commonwealth or a State or Territory an entity for thepurposes of CGT even D1 (about creating contractual or other rights in you) in sections 104-35and 109-5 of the Income Tax Assessment Act 1997? RESPONSE: Our reading of the legislation suggests that the ATO have answered correctly. ie that 960-100ITAA 97 will define an entity to include a Commonwealth, State or Territory Government. However, the application of the CGT provisions as described in the example provided does raise some questions.

Author profiles:

INSTITUTE OF CHARTERED ACCOUNTANTS IN AUSTRALIA
Current at 19 November 2004 Click here to expand/collapse more articles by INSTITUTE OF CHARTERED ACCOUNTANTS IN AUSTRALIA.
 
AUSTRALIAN TAXPAYERS ASSOCIATION
Current at 19 November 2004 Click here to expand/collapse more articles by AUSTRALIAN TAXPAYERS ASSOCIATION.

AUSTRALIAN SOCIETY OF CERTIFIED PRACTISING ACCOUNTANTS
Current at 19 November 2004 Click here to expand/collapse more articles by AUSTRALIAN SOCIETY OF CERTIFIED PRACTISING ACCOUNTANTS.

TAXATION INSTITUTE OF AUSTRALIA
Current at 19 November 2004 Click here to expand/collapse more articles by TAXATION INSTITUTE OF AUSTRALIA.

 

Copyright Statement
click to expand/collapse