Taxation Determination

TD 2008/28W - Withdrawal

Income tax: when is income tax of a private company a 'present legal obligation' for the purposes of the distributable surplus calculation under subsection 109Y(2) of Division 7A of Part III of the Income Tax Assessment Act 1936?

• Please note that the PDF version is the authorised version of this withdrawal notice.
  This ruling is being reviewed as a result of a recent court/tribunal decision. Refer to Decision Impact Statements: Commissioner of Taxation v H (NSD 211 of 2010) and Kocic and Federal Commissioner of Taxation (3191-3208 & 4601-4604 of 2007, 1406-1409 of 2008).
  This Determination has been replaced by TD 2012/D1
  This document has changed over time. View its history.

Notice of Withdrawal

Taxation Determination TD 2008/28 is withdrawn with effect from today.

1. Taxation Determination TD 2008/28 concerned when income tax of a private company properly payable for an income year, but unpaid at the end of that year, is a 'present legal obligation' for the purposes of the distributable surplus calculation under subsection 109Y(2) of Division 7A of Part III of the Income Tax Assessment Act 1936.

2. The Determination has been withdrawn as the ATO has changed its view following the decision of the Full Federal Court in Commissioner of Taxation v. H [2010] FCAFC 128.

3. It is replaced by Draft Taxation Determination TD 2012/D1.

Commissioner of Taxation
11 January 2012

Previous Draft: TD 2008/D8

References

ATO references:
NO 1-3FMSSTC