The ATO on Wed 12.11.2014, released Draft Taxation Determination TD 2014/D19 which states that the “interest” referred to in the phase at the end of s 974-80(2) of the ITAA 1997 is the interest held by the “ultimate recipient” and not the interest held by the “connected entity”.
DATE OF EFFECT: When the final Determination is issued, it is proposed to apply both before and after its date of issue.
COMMENTS are due by 12 December 2014. ATO contact: Gorana Kolundzic – Tel: (02) 6216 2314; Fax: (02) 6216 1247; Email: Gorana.Kolundzic@ato.gov.au.
[LTN 219, 12/11/14]