Taxation Determination

TD 92/101

Income tax: capital gains: how may shareholders be notified of a liquidator's written declaration under section 160WA?

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FOI status:

may be releasedFOI number: I 1212675

This Determination, to the extent that it is capable of being a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953 , is a public ruling for the purposes of that Part. Taxation Ruling TR 92/1 explains when a Determination is a public ruling and how it is binding on the Comissioner. Unless otherwise stated, the Determination applies to transactions entered into both before and after its date of issue.

1. In order to make an election under section 160WA of the Income Tax Assessment Act 1936, a shareholder must know that the liquidator has made the required written declaration after 11 November 1991. There is no requirement in section 160WA for shareholders to be notified by the liquidator individually or collectively. It is the responsibility of each shareholder to obtain this information from the liquidator.

2. Liquidators may notify shareholders that they have made such a written declaration by public meeting, media release, public notice in newspapers, letter, or any other means that they may choose.

Commissioner of Taxation
01/07/92

References


BO ADVG CHERM

ISSN 1038 - 3158

Related Rulings/Determinations:

TD 21;
TD 92/102

Subject References:
Winding up of a company;
liquidator's written declaration

Legislative References:
ITAA 160WA

TD 92/101 history
  Date: Version: Change:
You are here 1 July 1992 Original ruling  
  29 November 2006 Original ruling + note Repeal provision note

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