INCOME TAX ASSESSMENT ACT 1936
(Repealed by No 161 of 2005)
S 170BA repealed by No 161 of 2005, s 3 and Sch 2 item 5, applicable to things done on or after 1 January 2006. S 170BA formerly read:
SECTION 170BA EFFECT OF PUBLIC RULING ON TAX OTHER THAN WITHHOLDING TAX
In this section:
, in relation to a person, means ruling affected tax payable in relation to the person after allowing:
(a) a credit within the meaning of Division 19 of Part III ; or
(b) an offset within the meaning of Division 1 of Part IIIAA ;
'ruling affected tax'
(a) income tax; or
(b) franking deficit tax; or
(ba) venture capital deficit tax; or
(bb) over-franking tax; or
(c) Medicare levy;
but does not include withholding tax;
Definition of ``ruling affected tax'' amended by No 23 of 2005, s 3 and Sch 3 item 53, by substituting paras (b), (ba) and (bb) for para (b), applicable in relation to events that occur on or after 1 July 2002. Para (b) formerly read:
(b) franking deficit tax within the meaning of Part IIIAA; or
includes mining withholding tax.
Expressions used in this section have the same meanings as in Part IVAAA of the Taxation Administration Act 1953.
Subject to sections 170BC and 170BDA , if:
(a) there is a public ruling on the way in which an income tax law applies to a person in relation to an arrangement ( ``ruled way'' ); and
(b) that law applies to a person in relation to that arrangement in a different way; and
(c) the amount of final tax under an assessment in relation to that person would (apart from this section and sections 170BC and 170BDA ) exceed what it would have been if that law applied in the ruled way;
the assessment and amount of final tax must be what they would be if that law applied in the ruled way.
S 170BA(3) amended by No 179 of 1999.
S 170BA inserted by No 101 of 1992.