Taxation Determination

TD 1999/64W

Income tax: capital gains: what are the consequences for taxpayers who make a capital gain on the conversion of their Wheat Industry Fund units to shares in AWB Limited?

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Notice of Withdrawal

Taxation Determination TD 1999/64 is withdrawn with effect from today.

1. TD 1999/64 concerns the CGT consequences for taxpayers involved in the restructure of the Australian Wheat Board (AWB) from a statutory marketing authority to a grower owned company, AWB Limited, from 1 July 1999.

2. TD 1999/64 applies to a specific class of entities, being the holders of units in the Wheat Industry Fund, a fund that no longer exists.

3. TD 1999/64 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation
20 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 released as TD 1999/D27

References

ATO references:
NO 1-9N72KXS

Related Rulings/Determinations:

TD 1999/65

Subject References:
capital gains
capital gains tax
CGT cost base
CGT rollover
CGT retirement exemption
wheat growing

Legislative References:
ITAA97 104-20
ITAA97 Pt 3-1 Subdiv 118-F
ITAA97 Subdiv 124-B
ITAA97 Pt 3-3 Div 123