Taxation Determination

TD 95/59W

Income tax: infrastructure borrowings: is a rebate in accordance with section 159GZZZZG available where interest from infrastructure lending is exempt under section 159GZZZZE and is partially exempt under another provision?

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Notice of Withdrawal

Taxation Determination TD 95/59 is withdrawn with effect from today.

1. TD 95/59 explains that where interest from infrastructure lending is exempt under section 159GZZZZE of the Income Tax Assessment Act 1936 (ITAA 1936) and is partially exempt under another provision, a rebate in accordance with section 159GZZZZG is available in relation to the interest which is included in assessable income.

2. TD 95/59 deals with the former infrastructure borrowing provisions in Division 16L of Part III of the ITAA1936, which were repealed by the Taxation Laws Amendment (Infrastructure Borrowings) Act 1997.

3. TD 95/59 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation
7 December 2016

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Previously issued as Draft TD 95/D17

References

ATO references:
NO 1-9N72KXS

Subject References:
infrastructure borrowings;
public infrastructure projects;
rebate election

Legislative References:
ITAA 159GZZZZE;
159GZZZZG