Published on 14 Jul 05
by THE TAX INSTITUTE
This is a joint submission from the Institute of Chartered Accountants in Australia, CPA Australia, the National Institute of Accountants, the Tax Institute and Taxpayers Australia regarding TD 2005/D13 Income tax: in applying the formula in subsection 707-325(3) of the Income Tax (Transitional Provisions) Act 1997 to more than one real loss-maker in relation to the same value donor, does the amount that is represented by the first element of the formula, that is, the 'Value donor's modified market value at initial transfer time' remain unchanged?
INSTITUTE OF CHARTERED ACCOUNTANTS IN AUSTRALIA
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NATIONAL INSTITUTE OF ACCOUNTANTS
TAXPAYERS AUSTRALIA INC
TAXATION INSTITUTE OF AUSTRALIA
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