Taxation Determination TD 94/63







This Determination, to the extent that it is capable of being a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953 , is a public ruling for the purposes of that Part. Taxation Ruling TR 92/1 explains when a Determination is a public ruling and how it is binding on the Commissioner. Unless otherwise stated, this Determination applies to years commencing both before and after its date of issue. However, this Determination does not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before the date of issue of the Determination (see paragraphs 21 and 22 of Taxation Ruling TR 92/20). | 1. No. By virtue of paragraph 160ZD(2B)(a), subsection 160ZD(2) does not apply if a statutory licence is disposed of by way of the expiry, loss or destruction of the licence. The statutory licensee is therefore not deemed to have received the market value of the licence. | 2. The specific mention of a 'statutory licence' in paragraph 160ZD(2B)(b) does not preclude such a licence from being an 'asset' for the purposes of paragraph 160ZD(2B)(a). | Commissioner of Taxation 21/7/94 | Previously issued as Draft TD 94/D63


Legislative references: ITAA 160ZD(2); ITAA 160ZD(2B); ITAA 160ZD(2B)(a); ITAA 160ZD(2B)(b)
Subject references: asset; CGT asset destruction; disposal; cancellation; expiry; loss; market value; statutory licence