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31 May 12 Addenda issued for 2 Consolidation Rulings

On 30 May 2012, the ATO issued the following 2 addenda:

  • TD 2008/29A2 - Income tax: consolidation: capital gains: do the core consolidation rules in Division 701 of the Income Tax Assessment Act 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? 30 May 2012
  • TD 2008/31A2 - Income tax: consolidation: capital gains: for the purposes of Part 3-90 of the Income Tax Assessment Act 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?

The addenda amend TD 2008/29 and TD 2008/31 to reflect changes introduced by Schedule 5 to the Tax Laws Amendment (2010 Measures No 1) Act 2010.

 


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