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On 17 August 2011, the ATO issued Taxation Determination TD 2011/21 entitled "Income tax: does it follow merely from the fact that an investment has been made by a trustee that any gain or loss from the investment will be on capital account for tax purposes?" It was previously released in draft form as TD 2011/D1.

The answer given to the question posed is:

"No. The mere fact that a gain or loss from an investment is made by an entity in its capacity as trustee of a trust is not conclusive as to whether the gain or loss is on revenue or capital account for tax purposes."


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