Notice of Withdrawal
Taxation Ruling IT 2458 is withdrawn with effect from today.
1. Taxation Ruling IT 2458 explains the taxation treatment of payments under certain Commonwealth educational assistance schemes, with a particular emphasis on the exemption of payments under paragraphs 23(z) and 23(zaa) of the Income Tax Assessment Act 1936 (ITAA 1936).
2. IT 2458 is being withdrawn because:
- (a)
- it does not adequately reflect current Commonwealth educational assistance arrangements;
- (b)
- paragraphs 23(z) and 23(zaa) of the ITAA 1936 were made inoperative as a result of the operation of the Taxation Laws Amendment Act (No. 6) 1999 and repealed by the Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006; and
- (c)
- the exemption of payments under Commonwealth education or training assistance schemes is now addressed by Division 51 and Subdivision 52-F of Part 2-15 of the Income Tax Assessment Act 1997.
Commissioner of Taxation
17 February 2010