Draft Taxation Determination

TD 2011/D9WER - Erratum to Withdrawal

Income tax: employee share schemes: if a share in a 'no goodwill' professional practice company is acquired by a practitioner-shareholder (or a new practitioner-shareholder), will the Commissioner accept, for the purposes of determining whether that acquisition was at a discount within the meaning of subsection 83A-20(1) of the Income Tax Assessment Act 1997, that the goodwill of the company can be taken to have no value?

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Erratum

This Erratum corrects the reference to the replacement web guidance provided in the Withdrawal Notice.

TD 2011/D9W is corrected as follows:

1. Paragraph 2

Omit 'Assessing the risk: acquisitions and disposals of interests in certain professional partnerships, trusts and incorporated practices; substitute 'Administrative treatment: acquisitions and disposals of interests in 'no goodwill' professional partnerships, trusts and incorporated practices.

This Erratum applies on and from 4 May 2016.

Commissioner of Taxation
9 May 2016

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References

ATO references:
NO 1-80TSE13