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Taxation Determination

TD 92/131W

Income tax: property development: are tender costs to be included in the 'estimated profits basis' calculation under Taxation Ruling IT 2450 and spread over the life of a long-term construction contract, or are they deductible under subsection 51(1) of the Income Tax Assessment Act 1936 in the year in which they are incurred?

Attention TD 92/131 has been withdrawn as part of a project to review public rulings.
Attention This document has changed over time. View its history.

Notice of Withdrawal

Taxation Determination TD 92/131 is withdrawn with effect from today.

1. TD 92/131 clarifies that tender costs are not taken into account for the purposes of the 'estimated profits basis' as explained in Taxation Ruling IT 2450. This Determination explains that whilst tender costs may be attributable to a construction contract, they are severable from it and occur at a time before the beginning of the contract.

2. TD 92/131 is being withdrawn to form part of a consolidated ruling on the tax treatment of long-term construction contracts.

3. The issue covered by TD 92/131 is now covered in Taxation Ruling TR 2017/D8.

Commissioner of Taxation

18 October 2017


ATO references:
NO  1-BD70DD7

ISSN 2205-6211

Related Rulings/Determinations:
IT 2450

Legislative References:
ITAA s 51(1)

TD 92/131W history   Top  
   Date   Version   Change 
   30 July 1992   Original ruling   
 You are here ®  18 October 2017   Withdrawn   


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