Taxation Ruling

IT 2344A2 - Addendum

Income tax: trust schemes with non-resident beneficiaries: assessing guidelines: determination of objections: settlement guidelines

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FOI status:

May be released

Addendum

This Addendum amends Taxation Ruling IT 2344 to reflect the changes to the law caused by the repeal of inoperative provisions and the introduction of the uniform penalties regime in Division 284 of Schedule 1 to the Taxation Administration Act 1953.

Taxation Ruling IT 2344 is amended as follows:

1. Paragraph 3

Omit the heading 'Assessing Guidelines'.

2. Paragraph 6

(a)
Omit 'and would fail the requirements of subsection 190(b) of the Income Tax Assessment Act 1936'.
(b)
Omit 'of Section 260 and Part IVA of the Income Tax Assessment Act 1936'; substitute 'in Part IVA of the Income Tax Assessment Act 1936 (ITAA 1936)'.

3. Paragraph 7

After '99A', insert 'of the ITAA 1936'.

4. Paragraph 9

Omit the heading and paragraph; substitute:


9. The guidelines for settling taxation disputes are explained in the Code of Settlement Practice. Any payment arrangements included as part of a settlement of a taxation dispute must be in accordance with Law Administration Practice Statement PS LA 2006/11 The ATO Receivables Policy.

5. Paragraph 10

Omit the paragraph.

6. Paragraph 11

Omit the paragraph.

7. Paragraph 12

Omit the heading and the paragraph.

This Addendum applies on and from 27 February 2008.

Commissioner of Taxation
27 February 2008

References

ATO references:
NO 2006/20258

ISSN: 1039-0731

Related Rulings/Determinations:

IT 2344

Case References:
Case X22
90 ATC 242
21 ATR 3245


Case W48
89 ATC 460
20 ATR 3719

Faucilles Pty Ltd v FC of T
90 ATC 4003
20ATR 1712