Taxation Ruling

IT 177H - Notice of Archival

Onus of proof - profit making scheme

  • Please note that the PDF version is the authorised version of this ruling.

FOI status:

may be released

NOTICE OF ARCHIVAL

Taxation Ruling IT 177 is no longer current and has been archived.

The ruling is about former paragraph 26(a) of the Income Tax Assessment Act 1936. Paragraph 26(a) included in assessable income any profit from selling property acquired for profit-making by sale. It also covered profit from realising property as part of a profit-making undertaking or scheme. The paragraph was repealed in 1984.

Commissioner of Taxation
4 September 1996

References

ATO references:
NO NAT 96/8424-7

ISSN 0813-3662

Related Rulings/Determinations:

IT 177
IT 177W

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