Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 5 - Administration  

PART 5-5 - RULINGS  

Division 362 - Rulings by Industry Innovation and Science Australia that activities are not ineligible activities  

General provisions  

SECTION 362-65   WHEN RULINGS ARE BINDING ON THE COMMISSIONER AND INDUSTRY INNOVATION AND SCIENCE AUSTRALIA  

362-65(1)  


A ruling under this Division binds the Commissioner and *Industry 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If the ruling is withdrawn under this Division, it continues to bind the Commissioner and *Industry Innovation and Science Australia in relation to the entity until the end of the income year following the income year in which it is withdrawn, but only to the extent that the ruling affected investments made before the withdrawal took effect.

 

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