The Professional Bodies consider that taxation rulings and tax determinations should provide general guidance about the ATO’s view of the correct interpretation of tax laws; and in the present context, how the source of the profits made by a private equity fund from the disposal of the shares in an Australian corporate group is to be determined. If the final Determination is to achieve that aim, the Professional Bodies consider that the Draft TD will require amendment, as discussed below.
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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