Taxation Determination

TD 2009/20W

Income tax: where the net income of a partnership (determined in accordance with section 90 of the Income Tax Assessment Act 1936) includes Foreign Investment Fund (FIF) income, will an Australian resident taxpayer which is assessable on its share of the net income under section 92 be entitled to a FIF exemption under subsection 519B(2) of that Act for any relevant proportion of their share of the partnership's net income?

• Please note that the PDF version is the authorised version of this withdrawal notice.
  There is a Compendium for this document: TD 2009/20EC .
  TD 2009/20W has been withdrawn as part of a project to review public rulings.
  This document incorporates revisions made since original publication. View its history and amending notices, if applicable.

Notice of Withdrawal

Taxation Determination TD 2009/20 is withdrawn with effect from today.

1. TD 2009/20 concluded that where an Australian resident taxpayer is assessable on its share of the net income of a partnership which includes FIF income, it is not entitled to a FIF exemption under subsection 519B(2) of the Income Tax Assessment Act 1936 (ITAA 1936).

2. Subsection 519B(2) of the ITAA 1936 has been repealed and there is no replacement or equivalent provision.

3. TD 2009/20 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation
27 June 2018

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO 1-D75OWX3

Related Rulings/Determinations:

TR 2006/10

Subject References:
complying superannuation funds
controlled foreign companies
controlled foreign partnerships
foreign investment funds

Legislative References:
ITAA 1936
ITAA 1936 6
ITAA 1936 Pt III Div 5
ITAA 1936 90
ITAA 1936 92
ITAA 1936 470
ITAA 1936 485
ITAA 1936 485(1)
ITAA 1936 485A
ITAA 1936 519B(2)
ITAA 1936 529
ITAA 1997 Div 36
ITAA 1997 290-150
ITAA 1997 Div 830
ITAA 1997 830-15
ITAA 1997 830-20
ITAA 1997 830-25
SISA 1993