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TD 2004/D71Wwithdrawnchange

Withdrawal - Income tax: consolidation: capital gains: which entity acquires a CGT asset, and when, if a contract to acquire the asset is entered into by an entity before it joins a consolidated group as a subsidiary member and the contract settles after joining?

Notice of Withdrawal

TD 2004/D71 expresses the view that for CGT purposes, the head company of the consolidated group acquires the asset when the acquisition contract was entered into.

The issue covered in this Determination is now dealt with in Taxation Determination TD 2005/D27, which issued today.

Accordingly, this Determination is no longer necessary.

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