Taxation Ruling

IT 2503PW

Income tax: incorporation of medical and other professional practices

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

FOI status:

may be released

Notice of Partial Withdrawal

Taxation Ruling IT 2503 is partially withdrawn with effect from today by omitting paragraph 2A.

1. IT 2503 deals with practice companies whose income flows directly or predominantly from the rendering of personal services by the professional practitioner.

2. Paragraph 2A refers to the alienation of personal services income test case program. This program has now ceased.

3. Accordingly, this paragraph is no longer current and is withdrawn.

Commissioner of Taxation
19 March 2014

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO 1-57D8K2M

ISSN: 0813-3662

Related Rulings/Determinations:

IT 2503