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18 Dec 14 Debt interest and funding returns - TD 2014/D20

On 17 December 2014, the ATO issued for public consultation by 30 January 2015 Taxation Determination TD 2014/D20 entitled "Income tax: will paragraph 974-80(1)(d) of the Income Tax Assessment Act 1997 be satisfied merely because a company has issued a debt interest to a listed property trust within the same stapled property group?"

The answer to the question posed is as follows:

"No. The fact that a company has issued a debt interest to a listed property trust within the same stapled property group will not of itself be sufficient to form a conclusion under paragraph 974-80(1)(d)1 that there is a scheme, or a series of schemes, designed to operate so that the returns on the debt interest are used to fund returns on an equity interest held by another person (the 'ultimate recipient')."

 


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