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Product Ruling

PR 2003/14W

Income tax: tax consequences for employees under the Toyota Financial Services Vehicle Leasing and Novation Arrangement

  • Please note that the PDF version is the authorised version of this withdrawal notice.
    This document incorporates revisions made since original publication. View its history and amending notices, if applicable.

FOI status:

may be released

Preamble

The number, subject heading, and the What this Product Ruling is about (including Tax law(s), Class of persons and Qualifications sections), Date of effect, Withdrawal, Arrangement and Ruling parts of this document are a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953. Product Ruling PR 1999/95 explains Product Rulings and Taxation Rulings TR 92/1 and TR 97/16 together explain when a Ruling is a public ruling and how it is binding on the Commissioner.

Withdrawal

1. This Product Ruling is withdrawn and ceases to have effect after 30 June 2006. The Ruling continues to apply, in respect of the tax laws ruled upon, to all persons within the specified class who enter into the specified arrangement during the term of the Ruling. Thus, the Ruling continues to apply to those persons, even following its withdrawal, who entered into the specified arrangement prior to withdrawal of the Ruling. This is subject to there being no material difference in the arrangement or in the persons' involvement in the arrangement.

Commissioner of Taxation
16 April 2003

Not previously released in draft form.

References

ATO references:
NO 2003/001920

ISSN: 1441-1172

Related Rulings/Determinations:

TR 92/1
TR 92/20
TD 93/34
TR 97/16
PR 1999/95

Subject References:
leasing
vehicle leasing & hire
luxury car lease
car fringe benefits
novation
product rulings
public rulings
taxation administration

Legislative References:
Copyright Act 1968
TAA 1953 Part IVAAA
ITAA 1936 23L(1)(a)
ITAA 1936 42A-A Sch 2E
ITAA 1936 42A-10 Sch 2E
ITAA 1936 42A-15(2) Sch 2E
ITAA 1936 42A-15(3) Sch 2E
ITAA 1936 42A-115 Sch 2E
ITAA 1936 42A-B Sch 2E
ITAA 1936 42A-C Sch 2E
ITAA 1936 42A-115 Sch 2E
ITAA 1936 42A-120 Sch 2E
ITAA 1997 6-5
ITAA 1997 6-5(4)
ITAA 1997 6-10
ITAA 1997 6-10(3)
ITAA 1997 40-230
FBTAA 1986 7
FBTAA 1986 136

PR 2003/14W history
  Date: Version: Change:
  16 April 2003 Original ruling  
You are here 1 July 2006 Withdrawn  

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