The ATO Fri 25.7.2014, issued ATO ID 2014/25 which deals with the following: Is a term deposit provided as security for a performance bond a right or obligation under a guarantee or indemnity subject to the exception in s 230-460(8) of the ITAA 1997? The ID says no, the term deposit is not a guarantee or indemnity in terms of s 230-460(8) of ITAA 1997.
[LTN 142, 25/7/14]