ATO Guidance and Materials

ATO ID 2010/37 Income Tax Deductions: tax indemnity payment

August 20th, 2014

Is a deduction available under section 8-1 of the Income Tax Assessment Act 1997 (ITAA 1997) for a tax indemnity payment made to an investor pursuant to an obligation in a research and development syndicate (R&D syndicate) arrangement, if the giving of such indemnities and entering into such arrangements is a regular part of the taxpayer’s business operations as a developer/supplier of technological products and holding company? Yes, the taxpayer is entitled to a deduction under section 8-1 of the ITAA 1997 […]

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ATO ID 2009/107 Income Tax R&D tax concession

August 20th, 2014

Under section 73CA of the Income Tax Assessment Act 1936 (ITAA 1936), is a company ‘not at risk’ in respect of an amount of expenditure if: The company incurs the expenditure in an effort to comply with a contractual obligation to deliver a certain product; and when it is incurred, it can reasonably be expected that, as a result, the company will earn a fee under the contract at least equal to the amount of the expenditure; and that expectation is held […]

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ATO ID 2008/130 Income Tax Income tax treatment of securitisation of leases

August 20th, 2014

Does an entity that acquires motor vehicles, leases them and assigns all of its rights under the leases including an amount specified as the residual value of the motor vehicles, to a special purpose vehicle under a securitisation arrangement, hold the motor vehicles as trading stock for the purposes of Division 70 of the Income Tax Assessment Act 1997 (ITAA 1997)? No. The entity does not, in the circumstances described above, hold the motor vehicles as trading stock for the purposes of […]

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ATO ID 2008/115 Income Tax Eligibility for Tax Offset: R&D tax offset and exempt entity ownership exception

August 20th, 2014

Does the exception in subsection 73J(2) of the Income Tax Assessment Act 1936 (ITAA 1936) apply, to prevent an eligible company choosing the tax offset under section 73I of the ITAA 1936, where the less than 25% exempt entity ownership requirement may not be breached if actual and potential future interests are taken into account? Yes. The exception in subsection 73J(2) of the ITAA 1936 applies if the interests actually owned, by an entity or entities referred to in the subsection, carry […]

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