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Taxation Determination

TD 94/13W


Income tax: are levies paid by wheatgrowers to the 'Wheat Industry Fund', as provided for by the Wheat Marketing Act 1989 and associated legislation, deductible under subsection 51(1) of the Income Tax Assessment Act 1936 ? Are refunds of 'equity' from this Fund assessable income under subsection 25(1)?

Attention This document has changed over time. View its history.


Notice of Withdrawal

Taxation Determination TD 94/13 is withdrawn with effect from today.

1. TD 94/13 explains that levy payments paid to the Wheat Industry Fund are deductible under subsection 51(1) of the Income Tax Assessment Act 1936 (ITAA 1936) and refunds are assessable under subsection 25(1) of the ITAA 1936.

2. TD 94/13 relates to the Wheat Marketing Act 1989, which was repealed by the Wheat Export Marketing (Repeal and Consequential Amendments) Act 2008 effective from 1 July 2008.

3. TD 94/13 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation

5 April 2017

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO  1-9N72KXS

ISSN 2205-6211

Related Rulings/Determinations:
IT 224,
TR 92/9

Legislative References:
ITAA 25(1)
51(1)
73B

Case References:
FC of T v. Squatting Investment Co Ltd
(1954) 88 CLR 413
10 ATD 361

Case No J81
(1958) 9 TBRD 460

Case 46
(1958) 8 CTBR (NS) 221

TD 94/13 history   Top  
   Date   Version   Change 
   27 January 1994   Original ruling   
 You are here ®   5 April 2017   Withdrawn   


 


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