Taxation Determination

TD 2004/25A1 - Addendum

Income tax: do moneys used to acquire financial securities or which are otherwise set aside to fund a guaranteed return to investors satisfy the 'expended directly' requirement of Division 10BA of Part III of the Income Tax Assessment Act 1936?

• Please note that the PDF version is the authorised version of this ruling.
  View the consolidated version for this notice.

Addendum

The investor tax incentives in Division 10BA of the Income Tax Assessment Act 1936 are being phased out in favour of incentives for producers of films. The change was made as part of the Tax Laws Amendment (2007 Measures No. 5) Act 2007.

TD 2004/25 is amended as follows:

1. Paragraph 8

After the paragraph insert:

Note: as part of the Tax Laws Amendment (2007 Measures No. 5) Act 2007, Division 10BA is being phased out as follows:

•

applications for certificates under Division 10BA will not be accepted after 25 September 2007;

•

a deduction under Division 10BA is not allowable in relation to the 2009-10 year of income or a later year of income.

2. Legislative references

Insert:

-

Tax Laws Amendment (2007 Measures No. 5) Act 2007

Commissioner of Taxation
25 June 2008

References

ATO references:
NO 2006/20258