Taxation Ruling

TR 2002/13A - Addendum

Income tax: Australian films - Division 10B - tax avoidance schemes

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Addendum

This Addendum amends Taxation Ruling TR 2002/13

The investor tax incentive in Division 10B of the Income Tax Assessment Act 1936 is being phased out in favour of incentives for producers of films. The change was made as part of the Tax Laws Amendment (2007 Measures No. 5) Act 2007.

Taxation Ruling TR 2002/13 is amended as follows:

1. Paragraph 34

Insert after paragraph 34:

Note: as part of the Tax Laws Amendment (2007 Measures No. 5) Act 2007, Division 10B is being phased out as follows:

•

applications for certificates under Division 10B will not be accepted after 25 September 2007;

•

the first deduction available under Division 10B will only be available in relation to the 2008-09 year of income or an earlier year of income.

2. Legislative references

Insert:

-

Tax Laws Amendment (2007 Measures No. 5) Act 2007

Commissioner of Taxation
25 June 2008

References

ATO references:
NO 2006/20258