Law Council of Australia

Business Law Section

Australian Taxation Office’s Draft Tax Determination TD 2023/D1

This submission concerning the ATO’s Draft Tax Determination TD 2023/D1 is made by the Taxation Committee of the Business Law Section of the Law Council of Australia (the Committee).

The Committee welcomes the opportunity to provide feedback on the ATO’s Draft Tax Determination TD 2023/D1 (the Draft Determination) concerning the interaction between the non-arm’s length income (NALI) and capital gains tax (CGT) provisions in determining the amount of statutory income that is NALI.

Following the release of the Draft Determination, it has become evident that the administration of the s 295–550 NALI provision does not accord with its policy intent and continues to create confusion.

Last Updated on 09/08/2023

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