Taxation Determination

TD 93/73W

Income tax: will a strata title body corporate be taxed as a non-profit company if it includes non-profit clauses in its by-laws?

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Notice of Withdrawal

Taxation Determination TD 93/73 is withdrawn with effect from today.

1. It continues to apply to arrangements begun to be carried out before the withdrawal but does not apply to arrangements begun to be carried out after the withdrawal.

2. TD 93/73 explains that a strata title body corporate will not be taxed as a non-profit company even if it includes non-profit clauses in its by-laws as the overarching State or Territory legislation permits distributions to members in certain circumstances.

3. TD 93/73 is replaced by draft Taxation Ruling TR 2015/D1 Income tax: income tax matters relating to bodies corporate constituted under strata title legislation which issues today.

Commissioner of Taxation
25 March 2015

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References

ATO references:
NO 1-6G659R5

Related Rulings/Determinations:

IT 2505

Subject References:
body corporate;
non-profit company;
strata title.

Legislative References:
Income Tax Rates Act 1986 3(1)

Case References:
Nadir Pty. Ltd. v. FC of T
(1973) 3 ATR 655
73 ATC 4074
129 CLR 595

Case 44
18 ATR 3279
Case U57
87 ATC 370
Case 5544
21 ATR 3117
Case X11
90 ATC 160