Draft Taxation Ruling

TR 2012/D5W

Income tax: debt and equity interests: when is a public unit trust in a stapled group a connected entity of a company for the purposes of paragraph 974-80(1)(b) of the Income Tax Assessment Act 1997

• Please note that the PDF version is the authorised version of this withdrawal notice.

Notice of Withdrawal

Taxation Ruling TR 2012/D5 is withdrawn with effect from today.

1. TR 2012/D5 considers arrangement whereby:

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shares in a company are stapled to units in a public unit trust,

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the stapled securities are issued to investors to raise funds primarily for use in the business conducted by the company, and

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the funds raised are predominantly contributed to the public unit trust and then used by the trustee to acquire a debt interest in the company.

2. TR 2012/D5 will be replaced by a Law Administration Practice Statement.

Commissioner of Taxation
6 November 2013

Not previously issued as a draft

References

ATO references:
NO 1-2KMKZUA

Related Rulings/Determinations:

TR 2006/10