Taxation Ruling

TR 2005/10A1 - Addendum

Income tax: consolidation: retained cost base assets consisting of Australian currency or a right to receive a specified amount of such currency

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Addendum

This Addendum amends Taxation Ruling TR 2005/10 to reflect the changes in Tax Laws Amendment (2010 Measures No. 1) Act 2010.

TR 2005/10 is amended as follows:

1. Paragraph 2

Omit

a pre-paid service entitlement in terms of paragraph 705-25(5)(c)

Substitute:

units in a cash management trust in terms of paragraph 705-25(5)(ba); a pre-paid service entitlement in terms of paragraph 705-25(5)(c); a right to future amounts that are expected to be included in assessable income in terms of paragraph 705-25(5)(d)

2. Paragraph 13

(a)

Omit list item '(c)'; substitute '(ba)'.

(b)

Omit 'If the *retained cost base asset is covered by paragraph (a) or (b)'; substitute 'If the *retained cost base asset is covered by paragraph (a), (b) or (ba)'.

3. Paragraph 29

Omit 'or (b)'; substitute ', (b) or (ba)'.

4. Legislative references

Insert:

-

705-25(5)(ba)

-

705-25(5)(d)

This Addendum applies on and from 10 February 2010.

Commissioner of Taxation
6 July 2011

References

ATO references:
NO 1-2HAF076