Private ruling: Division 855 of the ITAA 1997 and Taxable Australian Real Property
Date of advice: 30 March 2017
Published: August 2017

Ruling: Q1: Will Foreign Company ('ForCo') be required to recognise a capital gain on the sale of shares in X Company in its assessable income pursuant to section 6-10 and Subdivision 855-A of the Income Tax Assessment Act 1997 ('ITAA 1997')? | A1: No. | Q2: Will ForCo otherwise be required to include any gain made on the sale of shares in X Company in its assessable income pursuant to section 6-5 of the ITAA 1997? | A2: No. | Q3: If the answers to Question 1 and Question 2 are 'No', does Part IVA of the Income Tax Assessment Act 1936 ('ITAA 1936') apply to ForCo's sale of shares in X Company? | A3: No.