| Disclaimer This edited version has been archived due to the length of time since original publication. It should not be regarded as indicative of the ATO's current views. The law may have changed since original publication, and views in the edited version may also be affected by subsequent precedents and new approaches to the application of the law. You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4. |
Edited version of your private ruling
Authorisation Number: 1012559824392
Ruling
Subject: Proposed Implementation Steps
Question 1
Will CGT event E1 (section 104-55 of the Income Tax Assessment Act 1997 (ITAA 1997)) happen for the Taxpayer?
Answer
No
Question 2
Will CGT event A1 (section 104-10 of the ITAA 1997) happen for the Taxpayer?
Answer
No
Question 3
Will Division 6C of Part III of the Income Tax Assessment Act 1936 (ITAA 1936) apply?
Answer
No
Question 4
Will the Commissioner exercise the discretion under subsection 272-5(3) of Schedule 2F to the ITAA 1936?
Answer
Yes
This ruling applies for the following periods:
1 July 2013 to 30 June 2014
The scheme commences on:
1 July 2013
Relevant facts and circumstances
HeadCo is planning on entering into a transaction. As part of the transaction, a number of steps need to be implemented. One of these steps is to obtain the approval of the shareholders in the various Sub-Cos to vary their respective Constitutions.
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 104-10
Income Tax Assessment Act 1997 Section 104-55
Income Tax Assessment Act 1936 Division 6C
Income Tax Assessment Act 1936 Schedule 2F
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).
