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On 18 February 2015, the ATO issued the following addendum to TD 2007/18:

  • TD 2007/18A1 Income tax: consolidation: in applying the statutory cap in section 705-40 (tax cost setting amount for reset cost base assets held on revenue account) of the Income Tax Assessment Act 1997, does the definition of revenue asset in section 977-50 of that Act include any CGT asset, a hypothetical realisation of which would have an amount reflected in the joining entity's taxable income (disregarding the single entity rule), otherwise than solely as a capital gain or capital loss?

It amends Taxation Determination TD 2007/18 to:

  • update the reference from Subdivision 124-G of ITAA 1997 to Division 615 as a result of legislative amendment, and
  • update other references as required.


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