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On 25 May 2011 the ATO issued Taxation Determination TD 2011/12, entitled “Income tax: where an equity interest is a financial arrangement which satisfies both subsections 230-45(1) and 230-50(1) of the Income Tax Assessment Act 1997, which provision applies?” The answer to this question, according to the Determination, is that s 230-50(1) of the ITAA 1997 applies if an equity interest satisfies both s 230-50(1) and s 230-45(1).

This Determination was originally issued in draft as TD 2010/D3.