Draft Taxation Determination

TD 2000/D23W - Withdrawal

Income tax: Can the amount of a company's preliminary unrealised net loss in step 4 of section 165-115E of Subdivision 165-CC of the Income Tax Assessment Act 1997 be determined using a market valuation of the company's CGT assets en globo ?

• Please note that the PDF version is the authorised version of this withdrawal notice.

FOI status:

may be released

Notice of Withdrawal

Draft Taxation Determination TD 2000/D23 is withdrawn with effect from today.

The issue dealt with in the draft Taxation Determination has been clarified by legislative amendments made to Subdivision 165-CC by the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002. See, for example, section 165-115E and, in particular, subsection (2) of that section. The amendments apply, on a no detriment basis, from the commencement of Subdivision 165-CC of the Income Tax Assessment Act 1997.

Commissioner of Taxation
22 January 2003

References

ATO references:
NO 2002/11971

Related Rulings/Determinations:

TD 2000/D23