Taxation Ruling

IT 2643W - Notice of Withdrawal

Income tax: sale of shares in companies in liquidation, receivership ('wash sales')

  • Please note that the PDF version is the authorised version of this withdrawal notice.

FOI status:

may be released

Notice of Withdrawal

Taxation Ruling IT 2643 is withdrawn with effect from today.

1. Taxation Ruling IT 2643, which was released on 4 July 1991, considers the possible operation of Part IVA of the Income Tax Assessment Act 1936 to a sale of shares in a company in liquidation or receivership to a close relative.

2. Draft Taxation Ruling TR 2007/D7 Income tax: application of Part IVA of the Income Tax Assessment Act 1936 to 'wash sale' arrangements, which is released today, covers the issues considered in IT 2643.

3. Accordingly, Taxation Ruling IT 2643 is withdrawn.

Commissioner of Taxation
11 July 2007

References

ATO references:
NO 2006/20258

ISSN 0813 - 3662

Related Rulings/Determinations:

IT 2643

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