A joint submission from CPA Australia, the Institute of Chartered Accountants in Australia, the Taxation Institute of Australia, Corporate Tax Association of Australia and Taxpayers Australia regarding Draft Taxation Determination TD 2004/D70 Income tax: consolidation: capital gains: can the exemption in section 152-125 of the Income Tax Assessment Act 1997 apply to a payment made by the head company of a consolidated group to a CGT concession stakeholder of the head company in respect of a capital gain made on the disposal of an asset legally owned by a subsidiary member of the group for which the head company obtained the small business 15 year exemption?
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