Taxation Determination

TD 94/13W

Income tax: are levies paid by wheatgrowers to the 'Wheat Industry Fund', as provided for by the Wheat Marketing Act 1989 and associated legislation, deductible under subsection 51(1) of the Income Tax Assessment Act 1936 ? Are refunds of 'equity' from this Fund assessable income under subsection 25(1)?

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Notice of Withdrawal

Taxation Determination TD 94/13 is withdrawn with effect from today.

1. TD 94/13 explains that levy payments paid to the Wheat Industry Fund are deductible under subsection 51(1) of the Income Tax Assessment Act 1936 (ITAA 1936) and refunds are assessable under subsection 25(1) of the ITAA 1936.

2. TD 94/13 relates to the Wheat Marketing Act 1989, which was repealed by the Wheat Export Marketing (Repeal and Consequential Amendments) Act 2008 effective from 1 July 2008.

3. TD 94/13 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation
5 April 2017

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References

ATO references:
NO 1-9N72KXS

Related Rulings/Determinations:

IT 224,
TR 92/9

Legislative References:
ITAA 25(1)
51(1)
73B

Case References:
FC of T v. Squatting Investment Co Ltd
(1954) 88 CLR 413
10 ATD 361

Case No J81
(1958) 9 TBRD 460
Case 46
(1958) 8 CTBR (NS) 221