Notice of Addenda

Administered by Department of the Treasury

Legislation au C2014G00617 In force Gazette

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COMMISSIONER OF TAXATION

The Commissioner of Taxation, Chris Jordan, gives notice of the following Rulings, copies of which can be obtained from Branches of the Australian Taxation Office or at http://law.ato.gov.au.

NOTICE OF ADDENDA
Ruling Number	Subject	Brief Description
TD 2007/14A1	Income tax: capital gains: small business concessions: what ‘liabilities’ are included in the calculation of the ‘net value of the CGT assets’ of an entity in the context of subsection 152‑20(1) of the Income Tax Assessment Act 1997?	The Addendum amends Taxation Determination TD 2007/14 to reflect changes in the law for CGT events made by Tax Laws Amendment (2006 Measures No. 7) Act 2007 to the Income Tax Assessment Act 1997 which: Allow a negative net value of the CGT assets of an entity to be calculated, and Allow provisions for long service leave, annual leave, unearned income and tax liabilities to be taken into account when determining the net value of CGT assets of an entity. The Addendum applies to CGT events happening in the 2006‑07 income year or later income years.
TD 2007/14A2	Income tax: capital gains: small business concessions: what ‘liabilities’ are included in the calculation of the ‘net value of the CGT assets’ of an entity in the context of subsection 152‑20(1) of the Income Tax Assessment Act 1997?	The Addendum amends Taxation Determination TD 2007/14 to reflect changes in the law for CGT events made by Taxation Laws Amendment (Small Business) Act 2007 to the Income Tax Assessment Act 1997: increase the maximum net asset value test threshold in section 152-15 of the ITAA 1997 from $5 million to $6 million replace the term ‘small business CGT affiliate’ with ‘affiliate’, move its definition and change its meaning in some respects, and enact the small business entity ($2 million turnover) test as an alternative to the maximum net asset value test as a means of qualifying for the small business capital gains tax concessions. The Addendum applies to CGT events happening in the 2007‑08 income year or later income years.
TD 2007/14A3	Income tax: capital gains: small business concessions: what ‘liabilities’ are included in the calculation of the ‘net value of the CGT assets’ of an entity in the context of subsection 152‑20(1) of the Income Tax Assessment Act 1997?	The Addendum amends Taxation Determination TD 2007/14 to include the Commissioner’s view of the implications of the Full Federal Court decision of Commissioner of Taxation v. Byrne Hotels Qld Pty Ltd [2011] FCAFC 127. The Addendum applies to years commencing both before and after its date of issue.

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.