Taxation Determination

TD 2002/17W

Income tax: capital gains: can a shareholder in One.Tel Limited choose to make a capital loss on a share in that company under CGT event G3 (about a liquidator declaring shares worthless) in section 104-145 of the Income Tax Assessment Act 1997 ?

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Notice of Withdrawal

Taxation Determination TD 2002/17 is withdrawn with effect from today.

1. TD 2002/17 states that a shareholder in One.Tel Limited can choose to make a capital loss on a share in that company under CGT event G3 in section 104-145 of the Income Tax Assessment Act 1997 as a result of the liquidators making a declaration for the purposes of CGT event G3 on 30 May 2002.

2. TD 2002/17 has no ongoing relevance, and is therefore withdrawn without replacement.

Commissioner of Taxation
20 December 2016

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

Not previously released in draft form.

References

ATO references:
NO 1-9N72KXS

Related Rulings/Determinations:

TR 92/1
TR 97/16
TR 92/20
TD 92/101

Subject References:
capital loss
CGT event
CGT event G3
company
cost base
declaration
distribution
liquidator
loss
reduced cost base
share
worthless shares

Legislative References:
TAA 1953 Part IVAAA
ITAA 1997 104-145
ITAA 1997 104-145(1)
ITAA 1997 104-145(2)
ITAA 1997 104-145(3)
ITAA 1997 104-145(4)
ITAA 1997 104-145(5)