Skip to main content
shopping_cart

Your shopping cart is empty

22 Jun 11 Consolidation and capital gains – Addenda

On 22 June 2011 the ATO issued Addenda to four Taxation Determinations dealing with various aspects of the consolidation regime and capital gains. Each Addendum amends the relevant Taxation Determination to take into account the changes introduced by the Tax Laws Amendment (2010 Measures No 1) Act 2010.

They are as follows:

  • TD 2004/64A1: Income tax: consolidation: capital gains: does s 104-530 (CGT event L7) ITAA 1997 apply to amounts of a liability that accrue after the time that the entity with the liability became a subsidiary member of a consolidated group?
  • TD 2004/65A1: Income tax: consolidation: capital gains: does s 104-530 (CGT event L7) ITAA 1997 apply where: (a) an entity becomes a member of a consolidated group; (b) the entity owes a liability to another member of the group at that time; and (c) the liability is later discharged?
  • TD 2004/66A1: Income tax: consolidation: capital gains: can s 104-530 (CGT event L7) ITAA 1997 only apply if an allocable cost amount is worked out for an entity?
  • TD 2004/67A1: Income tax: consolidation: capital gains: does the determination of a capital gain or loss under s 104-530 (CGT event L7) ITAA 1997 require a full reconstruction of the allocable cost amount in relation to the relevant liability?