Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
PART 5-5
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RULINGS
Division 362
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Rulings by Innovation and Science Australia that activities are not ineligible activities
General provisions
SECTION 362-65
WHEN RULINGS ARE BINDING ON THE COMMISSIONER AND INNOVATION AND SCIENCE AUSTRALIA
362-65(1)
A ruling under this Division binds the Commissioner and *Innovation and Science Australia in relation to an entity (whether or not the entity is aware of the ruling) if:
(a) the ruling applies to the entity; and
(b) the entity relies on the ruling by acting (or omitting to act) in accordance with the ruling.
362-65(2)
If the ruling is withdrawn under this Division, it continues to bind the Commissioner and *Innovation and Science Australia in relation to the entity until the end of the income year following the income year in which it is withdrawn, but only to the extent that the ruling affected investments made before the withdrawal took effect.
View history note
Hide history noteNote: See section 3AA .
Chapter 5 - AdministrationA ruling under this Division binds the Commissioner and *Innovation and Science Australia in relation to an entity (whether or not the entity is aware of the ruling) if:
(a) the ruling applies to the entity; and
(b) the entity relies on the ruling by acting (or omitting to act) in accordance with the ruling.
If the ruling is withdrawn under this Division, it continues to bind the Commissioner and *Innovation and Science Australia in relation to the entity until the end of the income year following the income year in which it is withdrawn, but only to the extent that the ruling affected investments made before the withdrawal took effect.
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