Taxation Ruling
IT 2560W - Notice of Withdrawal
Income tax: dividend imputation system: guidelines for remission of additional tax imposed for overfranking of dividends
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Please note that the PDF version is the authorised version of this withdrawal notice.
FOI status:
may be releasedNotice of Withdrawal
Taxation Ruling IT 2560 is withdrawn with effect from today.
1. Taxation Ruling IT 2560 provides guidelines for the remission of additional tax imposed under former section 160ARX of the Income Tax Assessment Act 1936 (ITAA 1936) in relation to the overfranking of dividends.
2. Section 160ARX of the ITAA 1936 does not apply to a return or information relating to a franking year starting on or after 1 July 2000 (see section 160ARWA of the ITAA 1936). In addition, Part IIIAA of the ITAA 1936, which includes section 160ARX, was repealed by the Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006.
3. Accordingly, this Ruling is no longer current.
Commissioner of Taxation
21 February 2007
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