Taxation Determination
TD 2005/27W
Income tax: consolidation: is a unit in a cash management trust a retained cost base asset?
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FOI status:
Notice of Withdrawal
Taxation Determination TD 2005/27 is withdrawn with effect from today.
1. Taxation Determination TD 2005/27 provides the Commissioner's view on whether a unit in a cash management trust is a retained cost base asset for the purposes of paragraph 705-25(5)(b) of the Income Tax Assessment Act 1997 (ITAA 1997). TD 2005/27 explains that a unit in a cash management trust is not a retained cost base asset. To be a retained cost base asset, a unit in a cash management trust would need to be a right to receive a specified amount of Australian currency in accordance with paragraph 705-25(5)(b) of the ITAA 1997.
2. Item 121 of Schedule 5 to the Tax Laws Amendment (2010 Measures No. 1) Act 2010 amends the ITAA 1997 to provide when a unit in a cash management trust is a retained cost base asset. On this basis TD 2005/27 is withdrawn.
Commissioner of Taxation
13 July 2011
References
ATO references:
NO 1-2DTHEXX
Date: | Version: | Change: | |
22 June 2005 | Original ruling | ||
You are here | 13 July 2011 | Withdrawn |