Draft Taxation Determination
TD 2004/D71W - Withdrawal
Income tax: consolidation: capital gains: which entity acquires a CGT asset, and when, if a contract to acquire the asset is entered into by an entity before it joins a consolidated group as a subsidiary member and the contract settles after joining?
-
Please note that the PDF version is the authorised version of this withdrawal notice.
FOI status:
may be releasedNotice of Withdrawal
Taxation Determination TD 2004/D71 is withdrawn with effect from today.
1. TD 2004/D71 expresses the view that for CGT purposes, the head company of the consolidated group acquires the asset when the acquisition contract was entered into.
2. The issue covered in this Determination is now dealt with in Taxation Determination TD 2005/D27, which issued today.
3. Accordingly, this Determination is no longer necessary.
Commissioner of Taxation
17 August 2005