TAXATION ADMINISTRATION ACT 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 5 - Administration  

PART 5-5 - RULINGS  

Division 357 - Object and common rules  

Subdivision 357-B - Common rules for rulings  

Rules for all rulings

SECTION 357-65   STOPPING RELYING ON A RULING  

357-65(1)  
You can stop relying on a ruling. You do this by acting (or omitting to act) in a way that is not in accordance with the ruling.

Note:

There is no penalty for a shortfall resulting from failing to follow a ruling. However, there are penalties for shortfalls resulting from failing to take reasonable care, and from taking a position about a large income tax item that is not reasonably arguable: see Division 284 .

357-65(2)  
You may stop relying on a ruling at any time unless prevented from doing so by a time limit imposed by a *taxation law.

357-65(3)  
Having stopped relying on a ruling, you may rely on the ruling again unless prevented from doing so by a time limit imposed by a *taxation law.




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