Taxation Ruling
IT 2564W - Withdrawal
Income tax: remission of additional tax imposed in tax avoidance cases under anti-avoidance provisions of Part IVA
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Please note that the PDF version is the authorised version of this withdrawal notice.
FOI status:
may be releasedNOTICE OF WITHDRAWAL
Taxation Ruling IT 2564 is withdrawn with effect from today.
1. Taxation Ruling IT 2564 relates to sections 224 and 226 of the Income Tax Assessment Act 1936 which were amended by the Taxation Laws Amendment (Self Assessment) Act 1992 (Act No. 101 of 1992). Specifically, IT 2564 provides guidelines for the exercise of the discretion contained in subsection 227(3), concerning the remission of penalties imposed under the above sections. Sections 224 and 226 have now been amended to reflect the self assessment penalty regime. These changes apply to the 1992/93 and subsequent income years. Accordingly, IT 2564 is not current insofar as it relates to the 1992/93 and subsequent income years.
2. IT 2564 was the subject of a Notice of Archival on 29 September 1994.
3. IT 2564 is now being withdrawn in accordance with paragraph 5 of Addendum No. 3 to Taxation Ruling IT 1 Taxation Ruling System: explanation and status, which states:
We will withdraw progressively all Rulings in the IT series for which we have issued Notices of Archival.
Commissioner of Taxation
17 May 2006