Class Ruling

CR 2006/96W

Income tax: Construction Industry (Long Service) Act 1997 - Construction Industry (Long Service) Fund - Self-Employed Worker - Interest on Account

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  This document incorporates revisions made since original publication. View its history and amending notices, if applicable.

FOI status:

This publication provides you with the following level of protection: This publication (excluding appendixes) is a public ruling for the purposes of the Taxation Administration Act 1953. A public ruling is an expression of the Commissioner's opinion about the way in which a relevant provision applies, or would apply, to entities generally or to a class of entities in relation to a particular scheme or a class of schemes. If you rely on this ruling, we must apply the law to you in the way set out in the ruling (or in a way that is more favourable for you if we are satisfied that the ruling is incorrect and disadvantages you, and we are not prevented from doing so by a time limit imposed by the law). You will be protected from having to pay any underpaid tax, penalty or interest in respect of the matters covered by this ruling if it turns out that it does not correctly state how the relevant provision applies to you.

Withdrawal

1. This Class Ruling is withdrawn and ceases to have effect after 30 June 2010. However, the Ruling continues to apply after its withdrawal in respect of the tax provisions ruled upon, to all entities within the specified class who entered into the specific scheme during the term of the Ruling, subject to there being no change in the scheme or in the entities involvement in the scheme.

Commissioner of Taxation
27 September 2006

Not previously issued as a draft

References

ATO references:
NO 2006/17294

Related Rulings/Determinations:

TR 98/1

Subject References:
assessable income
income derived
interest income
investment income

Legislative References:
ITAA 1936 6(1)
ITAA 1997 6-5(1)
ITAA 1997 6-5(2)
TAA 1953
TAA 1953 Sch 1 357-75(1)
Copyright Act 1968
Construction Industry (Long Service) Act 1997

Case References:
Commissioner of Taxes v. Executor Trustee and Agency Company of South Australia Limited
(1938) 63 CLR 108