Taxation Determination

TD 2006/57A1 - Addendum

Income tax: consolidation: what is an excluded asset under subsection 705-35(2) of the Income Tax Assessment Act 1997?

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Addendum

This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Taxation Determination TD 2006/57 to delete an interpretation of the High Court decision in Federal Commissioner of Taxation v. Energy Resources of Australia Limited (1996) 185 CLR 66 (ERA) in the explanation section of the determination, which is inconsistent with the decision of the Full Federal Court in Commissioner of Taxation v. Messenger Press (2013) 212 FCR 298. The passages were quoted to provide additional context for the explanation of the meaning of the word 'under' in subsection 705 35(2). Removal of the references to the ERA decision will not change the range of circumstances to which the determination applies.

TD 2006/57 is amended as follows:

1. Paragraph 19

Omit the paragraph.

2. Case references

Omit:

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Federal Commissioner of Taxation v. Energy Resources of Australia Limited Australia (1994) 126 ALR; 94 ATC 4923; 29 ATR 553; 54 FCR 25

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Federal Commissioner of Taxation v. Energy Resources of Australia Limited (1996) 185 CLR 66; 33 ATR 52; 70 ALJR 629; 137 ALR 18; 96 ATC 4536

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Federal Commissioner of Taxation v. Sara Lee Household & Body Care (Australia) Pty Ltd (2000) 201 CLR 520; 74 ALJR 1094; 172 ALR 346; 2000 ATC 4378; 44 ATR 370; [2000] HCA 35.

This Addendum applies on and from 8 January 2014.

Commissioner of Taxation
8 January 2014

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References

ATO references:
NO 1-5662DA7