IT 2228PW - Notice of Partial Withdrawal
Income tax: futures transactions
Please note that the PDF version is the authorised version of this withdrawal notice.
FOI status:may be released
Notice of Partial Withdrawal
This notice partially withdraws Taxation Ruling IT 2228 by omitting paragraphs 37 to 43 that deal with 'basis trading'. Paragraphs 37 to 43 are removed because they do not correctly state the law in relation to the arrangement described as 'basis trading' in the paragraphs. Paragraphs 37 to 43 will continue to apply to arrangements entered into prior to today that match the description of the activity identified as basis trading' in paragraphs 37 to 43.
Taxation Ruling IT 2228 is partially withdrawn as follows:
Omit this heading.
Omit these paragraphs.
Commissioner of Taxation
15 September 2004