Taxation Determination
TD 94/66W
Income tax: if the trustee of a unit trust is 'the owner' of a 'unit of industrial property' (UIP) under Division 10B of Part III of the Income Tax Assessment Act 1936, is a unit holder in that trust entitled to a deduction under Division 10B in respect of that UIP?
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Notice of Withdrawal
Taxation Determination TD 94/66 is withdrawn with effect from today.
1. TD 94/66 explains that a deduction is not available for a unit holder in a unit trust which owns industrial property under Division 10B of Part III of the Income Tax Assessment Act 1936 (ITAA 1936). Only the trustee, as 'the owner' of the UIP, is entitled to a deduction.
2. TD 94/66 is being withdrawn as Division 10B of Part III of the ITAA 1936 has been repealed.
3. TD 94/66 has no ongoing relevance and is therefore withdrawn without replacement.
Commissioner of Taxation
26 April 2017
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References
ATO references:
NO 1-9N72KXS
Related Rulings/Determinations:
IT 131;
IT 2658;
IT 2671
Subject References:
capital expenditure;
intellectual property;
unit of industrial property;
unit trust
Legislative References:
ITAA Pt III Div 10B;
ITAA 124K;
ITAA 124L;
TAA 14ZAR
Case References:
Charles v. FC of T
(1953-54) 90 CLR 598
Date: | Version: | Change: | |
21 July 1994 | Original ruling | ||
You are here | 26 April 2017 | Withdrawn |