Taxation Determination

TD 94/49W

Income tax: can convertible notes qualify as infrastructure borrowings?

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Notice of Withdrawal

Taxation Determination TD 94/49 is withdrawn with effect from today.

1. TD 94/49 explains that borrowings raised or issued in the form of convertible notes can qualify as infrastructure borrowings for the purposes of former section 159GZZZU of the Income Tax Assessment Act 1936 (ITAA 1936).

2. TD 94/49 deals with the former infrastructure borrowings provisions in Division 16L of Part III of the ITAA 1936, which were repealed by the Taxation Laws Amendment (Infrastructure Borrowings) Act 1997.

3. TD 94/49 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation
7 December 2016

© 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).

Previously issued as Draft TD 94/D2

References

ATO references:
NO 1-9N72KXS

Related Rulings/Determinations:

TD 94/50
TD 94/51
TD 94/52
TD 94/53

Subject References:
convertible note
exemption period
infrastructure borrowing

Legislative References:
ITAA 159GZZZU
ITAA 159GZZZZE(1)
ITAA Pt III Div 16L