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27 Feb 14 Dividend access share arrangement and s 177E - TD 2014/1

On 26 February 2014, the ATO issued Taxation Determination TD 2014/1 entitled "Income tax: is the 'dividend access share' arrangement of the type described in this Taxation Determination a scheme 'by way of or in the nature of dividend stripping' within the meaning of section 177E of Part IVA of the Income Tax Assessment Act 1936?"

It was previously issued in draft form as TD 2013/D5.

The answer to the question posed in the title is as follows:

"Yes, in the opinion of the Commissioner a dividend access share arrangement of the type described in this Determination is a scheme 'by way of dividend stripping' or 'in the nature of dividend stripping' within the meaning of section 177E of Part IVA. Consequently, the Commissioner's powers under section 177E and 177F are enlivened."


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