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CGT Determination Number 29

TD 29

Capital Gains: Does section 160ZM apply only to cash distributions?

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FOI status:

may be releasedFOI number: I 1019225

1. Section 160ZM is not limited to distributions of cash.

2. The word "payment" in an appropriate context is taken to include non-cash amounts (e.g. in specie distributions). The context in which the expression "pays an amount" appears in subsection 160ZM(1) is appropriate for it also to apply to amounts other than money.

Commissioner of Taxation
28 November 1991

References

ATO references:
NO TLG CGT 220988

ISSN 1037 - 1419

Subject References:
Non cash payments

Legislative References:
160ZM

TD 29 history
  Date: Version: Change:
You are here 28 November 1991 Original ruling  
  9 June 1999 Withdrawn  

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