Law Companion Guideline

LCG 2015/2A1 - Addendum

Section 177DA of the Income Tax Assessment Act 1936: schemes that limit a taxable presence in Australia

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Addendum

This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Law Companion Guideline LCG 2015/2 to account for the Tax Laws Amendment (Combating Multinational Tax Avoidance) Act 2015 receiving royal assent on 11 December 2015.

LCG 2015/2 is amended as follows:

1. Page status (all pages)

At the top of all pages; insert:

Page status: legally binding

2. Title

Omit 'Schemes'; substitute 'schemes'.

3. Preamble

Omit the preamble; substitute:

4. Paragraph 1

(a) Omit all occurrences of 'Bill'; substitute 'Act'.

(b) Omit 'new'.

5. Paragraph 2

(a) Omit 'proposed'.

(b) Before 'law; insert 'new'.

6. Paragraph 3

(a) Omit 'will be'; substitute 'is'.

(b) Omit 'proposed'.

(c) Omit 'are currently working on'; substitute 'have developed'.

(d) Omit 'new' from the last sentence.

7. Paragraph 5

Omit the paragraph; substitute:

5. Miscellaneous Taxation Ruling MT 2012/3 Administrative penalties: voluntary disclosures sets out the circumstances in which the Commissioner is able to remit penalties in the case of voluntary disclosures.

8. Paragraphs 7 & 12

Omit 'Bill'; substitute 'Act'.

9. Paragraph 15

(a) Omit 'Explanatory Memorandum (EM) to the Bill'; substitute 'Explanatory Memorandum to the Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015 (Explanatory Memorandum)'.

(b) Omit 'EM to the Bill'; substitute 'Explanatory Memorandum'.

10. Paragraphs 23 and 40

Omit 'EM to the Bill'; substitute 'Explanatory Memorandum'.

11. Paragraph 30

Omit 'ITAA 1997'; substitute 'Income Tax Assessment Act 1997 (ITAA 1997)'.

12. Subparagraph 36(i)

Omit 'Income Tax Assessment Act 1997 (ITAA 1997)'; substitute 'ITAA 1997'.

13. Paragraphs 38, 48 AND 61

Omit all occurrences of 'proposed law'; substitute 'MAAL'.

14. Paragraph 41

Omit 'law'; substitute 'MAAL'.

15. Paragraph 65

After the last dot point; insert:

•

PS LA 2011/30 which deals with remission of penalties relating to scheme shortfall amounts.

•

MT 2012/3 which deals with administrative penalties in the case of voluntary disclosures.

16. Paragraphs 66 and 67

Omit the paragraphs; substitute:

66. As noted above, the ATO has developed an internal framework for transitional arrangements for the MAAL, including a client experience road-map.

67. If you believe that the MAAL will apply to you and you would like to obtain a copy of the client experience road-map, please contact the MAAL project team at MAAL@ato.gov.au .

Commissioner of Taxation
11 December 2015

17. Legislative references

(a) Omit:

ITAA 1936 177DA(a)(ii)

ITAA 1936 177DA(a)(iii)

Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015

Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015 Sch 2

(b) Insert:

ITAA 1936 177DA(1)(a)(ii)

ITAA 1936 177DA(1)(a)(iii)

Tax Laws Amendment (Combating Multinational Tax Avoidance) Act 2015

Tax Laws Amendment (Combating Multinational Tax Avoidance) Act 2015 Sch 2

TAA 1953

18. Related Rulings/Determinations

After 'TR 2001/13'; insert 'MT 2012/3'.

19. Other references

Insert 'PS LA 2011/30';

Commissioner of Taxation
18 December 2015

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References