Taxation Determination

TD 2006/78A3 - Addendum

Income tax: capital gains: are there any circumstances in which the premises used in a business of providing accommodation for reward may satisfy the active asset test in section 152-35 of the Income Tax Assessment Act 1997 notwithstanding the exclusion in paragraph 152-40(4)(e) of the Income Tax Assessment Act 1997 for assets whose main use is to derive rent?

Addendum

This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Taxation Determination TD 2006/78 to include a reference to Tingari Village North Pty Ltd v. Commissioner of Taxation [2010] AATA 233 and the associated Decision Impact Statement (2008/4646 & 2008/4647), which notes the decision is consistent with Taxation Determination TD 2006/78.

TD 2006/78 is amended as follows:

1. Paragraph 17A

Omit the paragraph; substitute:


17A. The amendments applied to this consolidated Determination apply to CGT events happening from the date of issue of TD 2006/78A3.

2. Paragraph 23

After 'Radaich v. Smith (1959) 101 CLR 209' insert '; Tingari Village North Pty Ltd v. Commissioner of Taxation [2010] AATA 233 at paragraphs 44-46, 2010 ATC 10-131, 78 ATR 693 and associated Decision Impact Statement 2008/4646 & 2008/4647.'

3. Case references

Insert:


- Tingari Village North Pty Ltd v. Commissioner of Taxation [2010] AATA 233, 2010 ATC 10-131, 78 ATR 693

4. Other references

Insert:


- Decision Impact Statement on Tingari Village North Pty Ltd v. Commissioner of Taxation - DIS 2008/4646 & 2008/4647

This Addendum applies with effect from today.

Commissioner of Taxation
19 December 2012

References

ATO references:
NO 1-2NIWPML

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).