Miscellaneous

Draft Tax Determination TD 98/D12

Author: Tax Policy & Research Division

Published Date: 1 Jul 1998

 

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We are aware of instances where the ATO has accepted that s391 applies to a CFC's capital gain calculation (ie the capital gain has been calculated using the functional currency, with the net gain so ascertained then converted to Australian currency). The reasons for this acceptance appear to be based on both legal and practical grounds.
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  • Published By:Tax Policy & Research Division
  • Published On:1 Jul 1998

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Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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Unless expressly stated, opininons are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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