Taxation Ruling

IT 2302W - Notice of Withdrawal

Income tax: assessability of government funded vine pull assistance

  • Please note that the PDF version is the authorised version of this withdrawal notice.

FOI status:

may be released

NOTICE OF WITHDRAWAL

Taxation Ruling IT 2302 has been withdrawn

This Ruling is about the assessability received under the Vine Pull Assistance Scheme. The Scheme ceased in 1987 and therfore this Ruling is no longer necessary. Furthermore, the decision in First Provincial Building Society v FC of T 95 ATC 4145; (1995) 30 ATR 207, confirms the position that a subsidy which is paid as compensation for closing down a business is not assessable under subsection 26(g) of the Income Tax Assessment Act 1936.

Commissioner of Taxation
6 November 1996

References

ATO references:
NO CNN J36/354/1

ISSN 0813-3662

Related Rulings/Determinations:

IT 2302

Case References:
First Provincial Building Society v FC of T
91 ATC 4145
30 ATR 207