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Joint professional body submission in relation to Draft Taxation Determination TD 2009/D3

Published on 07 Aug 09 by THE TAX INSTITUTE

The Professional Bodies agree with the approach taken in the draft determination to the characterisation of situations where CGT Event E8 will apply. That is, we agree that CGT Event E8 should be limited to situations where the relevant beneficiary has a vested and indefeasible interest in the relevant share of trust capital. We agree that a taker in default of trust capital where the trustee may appoint capital to persons other than that beneficiary does not have an indefeasible interest.

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CPA AUSTRALIA


 
TAXPAYERS AUSTRALIA INC



INSTITUTE OF CHARTERED ACCOUNTANTS IN AUSTRALIA

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TAXATION INSTITUTE OF AUSTRALIA

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NATIONAL INSTITUTE OF ACCOUNTANTS

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