27 Oct 11 Source on sale of shares in an Australian corporate group - TD 2011/24
On 26 October 2011, the ATO issued Taxation Determination TD 2011/24, entitled "Income tax: is an 'Australian source' in s 6-5(3) of ITAA 1997 dependent solely on where purchase and sale contracts are executed in respect of the sale of shares in an Australian corporate group acquired in a leveraged buyout by a private equity fund?"
It was previously released in draft form as TD 2010/D7.
The answer to the question posed by the Determination is: "No. For the purposes of s 6-5(3) of ITAA 1997, source is determined having regard to all the facts and circumstances of the particular case."