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Taxation Determination TD 93/D114

TD 93/D114W - Withdrawal

Income tax: property development: where a construction contractor uses the basic method of returning income from long term construction contracts as outlined in Taxation Ruling IT 2450, when are advance or up front payments derived as income for the purposes of subsection 25(1) of the Income Tax Assessment Act 1936?

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

FOI status:

May be released

Notice of Withdrawal

Taxation Determination TD 93/D114 is withdrawn with effect from today.

The matter canvassed in the draft Determination came within the broader topic 'Property development: long-term construction contracts' previously listed on the Rulings Program. Because members of the Public Rulings Panel expressed reservations concerning certain crucial aspects of a proposed draft Ruling on that broader topic, the topic was withdrawn from the Rulings Program on 30 April 1996 to enable further consideration of the ATO position. Hence, TD 93/D114 is withdrawn and the question it poses will be considered in the context of the broader topic.

Commissioner of Taxation
26 March 1997

References

ATO references:
NO NAT 96/571-5

ISSN 1038 - 8982

Related Rulings/Determinations:

TD 93/D114


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