• Updates – Project Refresh

    We will update rulings where the revision to the ruling requires straightforward changes. For example, the inclusion of current legislative references and developments in case law since they were first published.

    Updates being progressed

    TD 93/55
    Income tax: is a 'housing allowance subsidy' paid to an employee in respect of the employee's principal residence assessable under the Income Tax Assessment Act 1936 (ITAA)?

    TD 93/58
    Income tax: under what circumstances is the receipt of a lump sum compensation/settlement payment assessable?

    TD 93/65
    Income tax: is a computer programmer a writer for the purposes of Division 16A of the Income Tax Assessment Act 1936?

    TD 93/75
    Income tax: can income from the sale of abalone taken by a person who is licensed to take and sell the abalone under the Fisheries Act 1968 (Vic) be assessable income of a partnership, company, trust, or another individual?

    TD 93/112
    Income tax: is a taxpayer who is required, as a condition of employment, to be within a specified weight to height ratio entitled to a deduction for a weight reduction program?

    TD 93/149
    Income tax: when is a commission receivable by a travel agent from a services provider (e.g. an airline) derived as assessable income under section 25 of the Income Tax Assessment Act 1936?

    TD 94/2
    Income tax: when Division 16D of Part III of the Income Tax Assessment Act 1936 applies to an arrangement, a proportion of each arrangement payment, representing the notional principal amount, may be treated as non-assessable by the operation of subsection 159GK(1). In such cases is a proportion of the costs relating to the non-assessable amount not deductible under subsection 51(1)?

    TD 94/10
    Income tax: can a taxpayer after lodging a return but before any assessment is made alter the figure for closing stock by adopting a different basis of valuation to that on which the return was originally prepared?

    TD 96/1
    Income tax: can section 36A of the Income Tax Assessment Act 1936 apply if a sole trader who owns trading assets transfers the assets to another person as a trustee of a discretionary trust?

    TD 96/2
    Income tax: can section 36A of the Income Tax Assessment Act 1936 apply if a sole trader who owns trading assets declares himself or herself to be a trustee of a discretionary trust over the assets?

    TD 96/37
    Income tax: foreign income: is foreign tax payable by a controlled foreign entity (CFE) under an accruals tax law of a listed country within the meaning of section 456A if, under the tax law of the country, no tax is required to be paid?

    TD 98/19
    Income tax: capital gains: may initial repair expenditure incurred after the acquisition of a CGT asset be included in the relevant cost base of the asset?

    TD 1999/78
    Income tax: capital gains: for the purposes of CGT event B1, what is meant by the expression 'at the end of an agreement' in section 104-15 of the Income Tax Assessment Act 1997?

    TD 2001/13
    Income tax: capital gains: for the purpose of the expression 'acquired the share' in paragraph 110-55(7)(b) of the Income Tax Assessment Act 1997 ('the 1997 act') does acquired include a case where you are taken to have acquired the share for an acquisition cost equal to its market value?

    TD 2005/33
    Income tax: does expenditure - which is a non-capital cost of ownership of a CGT asset - form part of the cost base of the asset, if it is a tax benefit in connection with a scheme to which the general anti-avoidance rules in Part IVA of the Income Tax Assessment Act 1936 apply?

    TD 2006/12
    Income tax: for the purposes of Division 775 of the Income Tax Assessment Act 1997, what forex realisation events happen to a creditor and a debtor, on the effective assignment by the creditor to a third party of a presently existing right to receive an amount under a foreign currency-denominated debt?

    TD 2006/71
    Income tax: capital gains: small business concessions: is the part of a payment which is a small business 50% reduction amount a non-assessable part under CGT event E4 in section 104-70 of the Income Tax Assessment Act 1997?

    TD 2008/21
    Income tax: is a Deferred Purchase Agreement warrant, an investment product offered by financial institutions, a traditional security for the purposes of sections 26BB and 70B of the Income Tax Assessment Act 1936?

    TD 2009/14
    Income tax: is a taxpayer entitled to an income tax deduction under subsection 70B(2) of the Income Tax Assessment Act 1936 where a Stapled Security of the kind described in Taxpayer Alert TA 2008/1 is sold at a loss or upon the occurrence of an Assignment Event?

    TR 92/3
    Income tax: whether profits on isolated transactions are income

    TR 92/18
    Income tax: bad debts

    TR 93/11
    Income tax: assessability of income on an accruals basis: when professional fees are derived

    TR 93/23
    Income tax: valuation of trading stock subject to obsolescence or other special circumstances

    TR 93/25
    Income tax: assessability of proceeds from illegal activities, treatment of amounts recovered and deductibility of fines and penalties

    TR 95/6
    Income tax: primary production and forestry

    TR 96/5
    Income Tax: take or pay contracts

    TR 96/6
    Income tax: assessability of benefits arising from the purchase or order of new aircraft

    TR 97/3
    Income tax: capital gains: compensation received by landowners from public authorities

    TR 2002/10
    Income tax: capital gains tax: asset register

    TR 2002/21
    Income tax: Pay As You Go (PAYG) Withholding from salary, wages, commissions, bonuses or allowances paid to office holders

    TR 2003/15
    Income tax: Pay As You Go (PAYG) Withholding – Payments made by trustees under the Bankruptcy Act 1966 to former employees

    TR 2005/9
    Income tax: record keeping – electronic records

    TR 2005/14
    Income tax: application of the Australia/New Zealand Double Tax Agreement to New Zealand Resident Trustees of New Zealand Foreign Trusts

    TR 2006/8
    Income tax: the cost basis of valuing trading stock for taxpayers in the retail and wholesale industries

    TD 38
    Capital Gains: Will the issuer of a convertible note be subject to capital gains tax if the convertible note is not exercised?

    TD 57
    Capital Gains: How are compensation payments for the loss or destruction of an uninsured asset treated?

    TD 92/132
    Income tax: property development: if land is trading stock, do related interest costs, council rates and land taxes, form part of the cost price for trading stock valuation purposes?

    TD 93/10
    Income tax: is a bankrupt allowed a deduction for losses incurred before bankruptcy, or for later voluntary payments made towards a released debt under sections 79E, 79F, 80, 80AAA and/or 80AA of the Income Tax Assessment Act 1936?

    TD 93/80
    Income tax: capital gains: how will Divisions 10 and 11 of Part IIIA of the Income Tax Assessment Act 1936 apply to options or rights issued by a company to shareholders, if the existing shares in respect of which the options or rights are issued consist of pre-CGT and post-CGT shares?

    TD 93/108
    Income tax: are taxpayers entitled to a deduction for the cost of renewing a driver's licence?

    TD 93/138
    Income tax: has an expense been 'incurred' for the purchase of imported trading stock which is in transit by sea and for which the bills of lading or non-negotiable waybills and finance documents relating to liability for payment have not yet been accepted?

    TD 93/194
    Income tax: how should a licensed club apportion expenses when calculating its taxable income?

    TD 94/89
    Income tax: capital gains: in what year of income is a taxpayer required for tax purposes to include a capital gain or loss in relation to land disposed of under a contract which is made in one year of income, but which is settled in a later year of income?

    TD 98/24
    Income tax: capital gains: what are the CGT consequences of a CGT event happening to post-CGT real property if the property comprises separate CGT assets under Subdivision 108-D in Part 3-1 of the Income Tax Assessment Act 1997 (the 1997 Act) or if the property is sold with depreciable assets?

    TD 1999/43
    Income tax: capital gains: does section 118-140 of the Income Tax Assessment Act 1997 (about changing main residences) allow you to treat two dwellings as your main residence for a period of up to six months if you choose to apply: (a) section 118-145 (about absences from your main residence); or (b) section 118-150 (about building, repairing or renovating a dwelling)?

    TD 1999/67
    Income tax: capital gains: if your land (including land on which your dwelling is situated) exceeds 2 hectares, can you select which 2 hectares the main residence exemption in Subdivision 118-B applies to and, if so, how do you calculate any capital gain or capital loss you make on the remainder of your land?

    TD 2000/6
    Income tax: capital gains: if a non-resident person bequeaths a CGT asset, which does not have the necessary connection with Australia, to a resident beneficiary, does that mean the resident makes a capital gain or capital loss if a CGT event later happens to the asset?

    TD 2000/7
    Income tax: capital gains: when does a CGT event happen to shares in a company, for the purposes of Part 3-1 and Part 3-3 of the Income Tax Assessment Act 1997, if the company is deregistered under the Corporations Law?

    TD 2000/10
    Income tax: capital gains: what are the CGT consequences for a shareholder if a company converts its shares into a larger or smaller number of shares?

    TD 2000/16
    Income tax: and capital gains tax: in what circumstances does subsection 118-150(5) of the Income Tax Assessment Act 1997 modify the start of the period in paragraph 118-150(4)(b) for which you choose under subsection 118-150(2) to apply the main residence exemption in Subdivision 118-B?

    TD 2000/31
    Income tax: capital gains: if you own an interest in a CGT asset and you acquire another interest in that asset, do the interests remain separate CGT assets for capital gains purposes or do they become a single asset?

    TD 2001/10
    Income tax: is the payer of a payment which is subject to Pay As You Go withholding required to give the recipient of the payment a payment summary and a copy of that payment summary?

    TD 2001/22
    Income tax: Is salary paid to a German resident employed as an assistant teacher in an Australian school exempt income?

    TD 2002/16
    Income tax: what are the obligations under the Income Tax Assessment Act 1936 where a business chooses to keep some of its records as encrypted information?

    TD 2004/31
    Income tax: which country is for the purposes of Part X of the Income Tax Assessment Act 1936 (the Act) the country of residence of a UK Limited Partnership (LP), a US LP, a UK Limited Liability Partnership (LLP) and a US LLP being a non-resident corporate limited partnership within Part III Division 5A of the Act?

    TD 2005/22
    Income tax: consolidation: is Australian currency, where it is taken to be foreign currency under section 960-80 of the Income Tax Assessment Act 1997 for the purposes of the functional currency provisions, treated as a retained cost base asset under the consolidation regime?

    TD 2006/30
    Income tax: foreign exchange: when calculating the amount of any gain or loss on disposal or redemption of a traditional security denominated in a foreign currency, should the amounts relevant to the calculation be translated (converted) into Australian dollars when each of the relevant events takes place?

    TD 2006/49
    Income tax: are there circumstances when a balancing adjustment for a car is worked out under section 40-370 instead of section 40-285 of the Income Tax Assessment Act 1997?

    TD 2007/2
    Income tax: should a taxpayer who has incurred a tax loss or made a net capital loss for an income year retain records relevant to the ascertainment of that loss only for the record retention period prescribed under income tax law?

    Last modified: 11 Jul 2017QC 50450