Taxation Determination TD 1999/23







1. Yes. Section 128F applies to any debenture as defined in subsection 128F(9). For the purposes of this section, 'debenture' is given a wider meaning than under subsection 6(1). It includes a promissory note or bill of exchange, in addition to common securities such as debenture stocks, bonds and notes, or any other securities of a company. | 2. Accordingly, provided the requirements of 128F are otherwise satisfied, the section applies to structured or indexed notes under which the yield (but not the principal amount) is determined by a variable factor and which may vary by an amount greater than or equal to zero. | Commissioner of Taxation 12 May 1999 | Previously released in draft form as TD 1999/D16


Related rulings: TD 1999/8 TD 1999/9 TD 1999/10 TD 1999/11 TD 1999/12 TD 1999/13 TD 1999/14 TD 1999/15 TD 1999/16 TD 1999/17 TD 1999/18 TD 1999/19 TD 1999/20 TD 1999/21 TD 1999/22 TD 1999/24 TD 1999/25 TD 1999/26
Legislative references: 6(1) 128F 128F(9)