Income tax: capital gains: how should interim and final liquidation distributions received by shareholders be treated for CGT purposes?
Please note that the PDF version is the authorised version of this ruling.This document has changed over time. View its history.
FOI status:may be releasedFOI number: I 1016103
|This Determination, to the extent that it is capable of being a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953 , is a public ruling for the purposes of that Part. Taxation Ruling TR 92/1 explains when a Determination is a public ruling and how it is binding on the Commissioner. Unless otherwise stated, this Determination applies to years commencing both before and after its date of issue. However, this Determination does not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before the date of issue of the Determination (see paragraphs 21 and 22 of Taxation Ruling TR 92/20).|
- is not a dividend in terms of subsection 47(1); or
- is a section 160ZLA dividend rebatable adjustment (section 160ZLA; subsection 160ZL(5)).
Commissioner of Taxation
20 April 1995
NO CGT Cell (CGDTLiq 3); NAT 94/8635-6
disposal of assets