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 362 - Rulings by Innovation and Science Australia that activities are not ineligible activities  

Guide to Division 362  

SECTION 362-1   WHAT THIS DIVISION IS ABOUT  


Innovation and Science Australia may make public rulings and private rulings expressing its view on whether activities are not ineligible activities for the purposes of applying capital gains tax provisions to venture capital investments.

Note:

An entity ' s involvement in ineligible activities can affect whether an investment is an eligible venture capital investment for the purpose of accessing a capital gains tax exemption under Subdivision 118-F of the Income Tax Assessment Act 1997 .


TABLE OF SECTIONS
TABLE OF SECTIONS
Public rulings by Innovation and Science Australia
362-5 Innovation and Science Australia may make public rulings on a specified class of activities
362-10 Application of public rulings
362-15 When a public ruling ceases to apply
362-20 Withdrawing public rulings
Private rulings by Innovation and Science Australia
362-25 Innovation and Science Australia may make private rulings on a specified activity
362-30 Applying for a private ruling
362-35 Innovation and Science Australia must give notice of its decision
362-40 Private rulings must contain certain details
362-45 Application of private rulings
362-50 Delays in making private rulings
362-55 When a private ruling ceases to apply
362-60 Withdrawing private rulings
General provisions
362-65 When rulings are binding on the Commissioner and Innovation and Science Australia
362-70 Application of common rules under Subdivision 357-B
362-75 Application of Divisions 358 and 359




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