EV 1052178102924currentnon-binding advice

CGT- exempt income

Non-binding edited private advice. This is an edited version of private advice the ATO gave to a specific taxpayer about their own circumstances. You cannot rely on it — it is not binding and provides no protection for anyone else (see PS LA 2008/4). Use it as a guide to the ATO’s thinking, not as authority.

1

1 Is the income of the Fund assessable income under subsection 6-5(3) of the Income Tax Assessment Act 1997 (ITAA 1997)?

2

No. Question 2 Is the income of the Fund assessable income under subsection 6-10(5) of the ITAA 1997? Answer No. Question 3 Is a net capital gain made by the Fund assessable income pursuant to section 102-5 of the ITAA 1997? Answer No. Question 4 Are gains made by the Fund from financial arrangements assessable income under subsection 230-15(1) of the ITAA 1997? Answer No. Question 5 Are gains from the disposal or redemption by the Fund of traditional securities assessable income under subsection 26BB(2) of the Income Tax Assessment Act 1936 (ITAA 1936)? Answer No. Question 6 Is the income of the Fund assessable income under subsection 97(3) of the ITAA 1936? Answer No. Question 7 Is the Fund liable to withholding tax under section 128B of the ITAA 1936 on interest, dividend or royalty income it derives from Australia? Answer No. Question 8 Is the Fund liable to withholding tax pursuant to section 840-805 of the ITAA 1997? Answer No.