Taxation Determination

TD 94/31W

Income tax: capital gains: what is meant by the term "original beneficial owner" as used in subsection 160ZZI(3) of the Income Tax Assessment Act 1936 (the Act)?

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FOI status:

Notice of Withdrawal

Taxation Determination TD 94/31 is withdrawn with effect from today.

1. TD 94/31 examines the meaning of the term 'original beneficial owner' for the purposes of subsection 160ZZI(3) of the Income Tax Assessment Act 1936 (ITAA 1936).

2. Subsection 160ZZI(3) of the ITAA 1936 was repealed and replaced by section 118-300 of the Income Tax Assessment Act 1997.

3. The term 'original beneficial owner' was replaced with 'original owner' by the Tax and Superannuation Laws Amendment (2014 Measures No. 7) Act 2015, with effect from the 2005-06 income year.

4. Accordingly, TD 94/31 is no longer current and is therefore withdrawn.

Commissioner of Taxation
25 January 2017

© 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).

Previously issued as Draft TD 93/D284;

and 285

References

ATO references:
NO 1-9N72KXS

Related Rulings/Determinations:

TD 94/32
TD 94/33
TD 94/34

Subject References:
exemption
life assurance policy
original beneficial owner
trustee

Legislative References:
ITAA 160V
ITAA 160ZZI
ITAA 160ZZI(3)
ITAA 160ZZI(3A)