Income tax: does 'separate net income' include the imputation credits attached to franked dividends?
||TD 94/27 has been withdrawn as part of a project to review public rulings.
||This document has changed over time. View its history.
Notice of Withdrawal
Taxation Determination TD 94/27 is withdrawn with effect from today.
1. TD 94/27 concluded that imputation credits are not included in 'separate net income' as defined in section 159J of the Income Tax Assessment Act 1936 .
2. Section 159J has been replaced with Subdivision 961-A of the Income Tax Assessment Act 1997 . The concept of 'separate net income' has been replaced with 'adjusted taxable income for offsets'.
3. TD 94/27 has no ongoing relevance, and is withdrawn without replacement.
Commissioner of Taxation
27 June 2018
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dependant spouse rebate;
separate net income