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26 Jun 08 3 draft Consolidation Determinations - TD 2008/D9-11

On 25 June 2008, the ATO released for public comment by 25 July 2008 the following 3 draft Taxation Determinations dealing with Consolidation:

  • TD 2008/D9 Income tax: consolidation: capital gains: do the core consolidation rules in Division 701 of ITAA 1997 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? [Answer: Yes]
  • 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? [Answer: No]
  • 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? [Answer: Yes]
With the issue of Draft Taxation Determination TD 2008/D9, draft Taxation Determination TD 2005/D27 (Income tax: consolidation: capital gains: do the core consolidation rules in Division 701 of ITAA 1997 modify the effect of the CGT contract rules if an entity contracts to sell or buy a CGT asset and the contract settles after the entity becomes, or ceases to be, a member of a consolidated group?) is withdrawn with effect from 25 June 2008. For a copy of TD 2005/D27W, go here

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