Taxation Determination

TD 2006/78A3 - Addendum

Income tax: capital gains: are there any circumstances in which the premises used in a business of providing accommodation for reward may satisfy the active asset test in section 152-35 of the Income Tax Assessment Act 1997 notwithstanding the exclusion in paragraph 152-40(4)(e) of the Income Tax Assessment Act 1997 for assets whose main use is to derive rent?

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Addendum

This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Taxation Determination TD 2006/78 to include a reference to Tingari Village North Pty Ltd v. Commissioner of Taxation [2010] AATA 233 and the associated Decision Impact Statement (2008/4646 & 2008/4647), which notes the decision is consistent with Taxation Determination TD 2006/78.

TD 2006/78 is amended as follows:

1. Paragraph 17A

Omit the paragraph; substitute:

17A. The amendments applied to this consolidated Determination apply to CGT events happening from the date of issue of TD 2006/78A3.

2. Paragraph 23

After 'Radaich v. Smith (1959) 101 CLR 209' insert '; Tingari Village North Pty Ltd v. Commissioner of Taxation [2010] AATA 233 at paragraphs 44-46, 2010 ATC 10-131, 78 ATR 693 and associated Decision Impact Statement 2008/4646 & 2008/4647.'

3. Case references

Insert:

- Tingari Village North Pty Ltd v. Commissioner of Taxation [2010] AATA 233, 2010 ATC 10-131, 78 ATR 693

4. Other references

Insert:

- Decision Impact Statement on Tingari Village North Pty Ltd v. Commissioner of Taxation - DIS 2008/4646 & 2008/4647

This Addendum applies with effect from today.

Commissioner of Taxation
19 December 2012

References

ATO references:
NO 1-2NIWPML