Taxation Determination

TD 2003/28A1 - Addendum

Income tax: capital gains: does CGT event E4 in section 104-70 of the Income Tax Assessment Act 1997 happen if the trustee of a discretionary trust makes a non-assessable payment to:

(a)
a mere object; or
(b)
a default beneficiary?

Addendum

This Addendum amends Taxation Determination TD 2003/28 so that references are to the current capital gains tax provisions in Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997.

This addendum applies from 14 September 2006, the date of effect of the repeal of the former capital gains tax provisions in Part IIIA of the Income Tax Assessment Act 1936, by Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006.

TD 2003/28 is amended as follows:

1. Paragraph 6

Omit the paragraph.

2. Legislative references

Omit:

ITAA 1936 160ZM

This Addendum applies on and after 14 September 2006.

Commissioner of Taxation
30 April 2008

References

ATO references:
NO 2006/20258

ISSN 1038-8982

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).