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Joint submission regarding TD 2004/D75

Published on 31 Jan 05 by THE TAX INSTITUTE

A joint submission by the Taxation Institute of Australia, the Institute of Chartered Accountants in Australia, CPA Australia and Taxpayers Australia regarding TD 2004/D75 Income tax: consolidation: can the head company of a consolidated group claim a deduction, under section 8-1 of the Income Tax Assessment Act 1997, for a consumable's tax cost setting amount where: (a) an entity acquired the consumable before it became a subsidiary member of the consolidated group (the joining time); (b) the expenditure incurred in purchasing the consumable was deductible by the entity in the income year in which it was incurred; and (c) at joining time, some or all of the consumable remained on-hand?

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.
 
TAXPAYERS AUSTRALIA INC
Current at 19 November 2004

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

CPA AUSTRALIA
Current at 19 November 2004

 

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