• Withdrawals – Project Refresh

    The following public ruling may be withdrawn under Project Refresh. You are invited to comment on this withdrawal by 30 November 2017. This can be done by email.

    IT 2316
    Income tax: distribution of partnership profits and losses

    Withdrawals being progressed

    The following withdrawals have previously been advised and are now being withdrawn under Project Refresh.

    IT 2356
    Income tax: deductibility of interest, assessment to trustee of undistributed trust income

    IT 2588
    Income tax: capital gains – ascertainment of market value of rights, options and convertible notes

    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 2000/35
    Income tax: capital gains: is a capital gain or capital loss made from an antique car, a veteran car or a vintage car disregarded?

    TD 2006/39
    Income tax: is a hearse 'a car designed mainly for carrying passengers' for the purposes of section 40-230 of the Income Tax Assessment Act 1997 and therefore subject to the car limit?

    IT 240
    Restoration of flood damaged land – expenditure incurred by primary producers

    IT 249
    Income tax: ex gratia payments received by former employees

    IT 2107
    Social Security sickness/invalidity benefits and workers' compensation benefits

    IT 2254
    Income tax: instalment purchase and depreciation on non-residential buildings

    IT 2277
    Income tax: partners seek to provide their service to their partnership through interposed company or trust

    IT 2321
    Income tax: fees paid to part-time members of governmental tribunals, committees, etc – requirement on member to pay fees into partnership account

    IT 2562
    Income tax: foreign tax credit system: interaction of foreign tax credit provisions with capital gains and capital losses provisions of Part IIIA

    IT 2612
    Income tax: assessability of fellowship moneys received from an overseas university

    IT 2613
    Income tax: changed basis of accounting for expenditure

    IT 2615
    Income tax: Medicare Levy

    TD 9
    Capital Gains: How do you apportion consideration received on the disposal of a composite asset?

    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 93/122
    Income tax: are organisations which are established to promote tourism exempt from income tax under paragraph 23(h) of the Income Tax Assessment Act 1936?

    TD 93/237
    Income tax: capital gains: section 160A and subsections 160M(6) and 160M(7) of the Income Tax Assessment Act 1936 were amended by Taxation Laws Amendment Act (No 4) 1992 with effect from 25 June 1992. Will these amendments have an effect on the views expressed in Taxation Determinations TD 2 and TD 3 in respect of debt waivers?

    TD 2001/21
    Income tax: Is salary paid to a French resident employed as an assistant teacher in an Australian school exempt income?

    TR 93/31
    Income tax: transfer of pensioner rebate between partners

    Last modified: 16 Nov 2017QC 50323