Withdrawal - Income tax: use of a proxy for a company's adjusted unrealised loss at an alteration time under Subdivision 165-CD of the Income Tax Assessment Act 1997

Draft Taxation Ruling TR 2000/D17 is withdrawn with effect from today.

The issues dealt with in the draft Taxation Ruling have been clarified by legislative amendments made to Subdivision 165-CD by the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002. See, for example, section 165-115U and section 165-115ZD of the Income Tax Assessment Act 1997, and section 165-115ZD of the Income Tax (Transitional Provisions) Act 1997. These amendments apply, on a no detriment basis, from the commencement of Subdivision 165-CD.