Income tax: capital gains: where section 160ZZT of the Income Tax Assessment Act 1936 applies to deem that a capital gain has accrued in regard to the disposal of a share in a private company or an interest in a private trust estate, can subsection 160ZD(2) operate to deem that the consideration received in respect of the disposal is an amount equivalent to market value?
Please note that the PDF version is the authorised version of this withdrawal notice.This document has changed over time. View its history.
FOI status:may be releasedFOI number: I 1216786
Notice of Withdrawal
TD 93/239 states that subsection 160ZD(2) of the Income Tax Assessment Act 1936 (ITAA 1936) can apply to substitute market value consideration for the purposes of calculating a capital gain under section 160ZZT of the ITAA 1936. This issue is now dealt with in draft Taxation Ruling TR 2004/D6 which issues today.
Commissioner of Taxation
23 June 2004
NO M6/M7 PROJ (CGTDET89)
capital gains tax