ATO ID 2014/26 – Superannuation and deduction for loss re traditional securities [29]

The ATO on Mon 11.8.2014 issued ATO ID 2014/26 which provides that a complying superannuation fund can claim a deduction under s 70B of the ITAA 1936 for the full amount of a loss it incurred on the disposal or redemption of a traditional security where the traditional security is not a segregated current pension asset as defined in s 295-385(3) of the ITAA 1997 and s 295-390 of the ITAA 1997 applies to exempt some of the income of the fund.

[LTN 154, 12/8/14]