Private ruling: Corporate restructure
Date of advice: 23 March 2016
Published: May 2016

Ruling: Q1: Will the interest payments be deductible under section A of the Income Tax Assessment Act 1997 (ITAA 1997)? | A1: Yes | Q2: Will the Commissioner make a determination under section B of the Income Tax Assessment Act 1936 (ITAA 1936)? | A2: No | Q3: Will the Commissioner make a determination under section C of the ITAA 1936? | A3: No

Relevant facts and circumstances: Company A has some assets. Company A wants to protect those assets. Company A proposes to establish Company B and C for the purposes of holding those assets. Company B (head company) and C (subsidiary member) will form a consolidated group, BC Consolidated Group. Post consolidations, the assets of Company A will reside in Company C. Detailed Reasoning Question 1 The taxpayer satisfied all of the relevant requirements of section A of the Income Tax Assessment Act 1997 (ITAA 1997)? Question 2 The taxpayer did not satisfy all of the relevant requirements of section B of the Income Tax Assessment Act 1936 (ITAA 1936) Question 3 The taxpayer did not satisfy all of the relevant requirements of section C of the ITAA 1936