Draft Taxation Determination

TD 2000/D14W - Withdrawal

Income tax: capital gains: in working out the 'net value' of a company or trust for the purposes of subsection 104-230(2) of the Income Tax Assessment Act 1997, does the word 'assets' in the definition of 'net value', for an entity, in subsection 995-1(1) include:
(a) assets, capital gains and capital losses from which are disregarded for capital gains purposes;
(b) trading stock; and
(c) 'off-balance sheet' assets,
and does the word 'liabilities' include contingent liabilities?

  • Please note that the PDF version is the authorised version of this draft ruling.

FOI status:

may be released

Notice of Withdrawal

Draft Taxation Determination TD 2000/D14 is withdrawn with effect from today.

TD 2000/D14 deals with the meaning of the words assets and liabilities in the definition of section 995-1(1) of the Income Tax Assessment Act 1997. This issue is now dealt with by draft Taxation Ruling TR 2004/D6 which issues today.

Commissioner of Taxation
23 June 2004

References

ATO references:
NO 2003/11684

ISSN: 1038-8982

Related Rulings/Determinations:

TD 2000/D14


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

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