Taxation Determination
TD 96/28W
Income tax: can an amount deducted under the Prescribed Payment System (PPS) from a payment to a company be entered into a franking account of the company at the time the deduction is made?
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Please note that the PDF version is the authorised version of this withdrawal notice.This document incorporates revisions made since original publication. View its history and amending notices, if applicable.
Notice of Withdrawal
Taxation Determination TD 96/28 is withdrawn with effect from today.
1. Taxation Determination TD 96/28 explains:
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- the meaning of 'paid' in section 160APA of the Income Tax Assessment Act 1936 (ITAA 1936); and
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- when an amount deducted under the PPS from a payment to a company gives rise to a credit in the franking account of the company.
2. The pay as you go (PAYG) withholding system replaced the PPS for the 2000-01 and later income years
3. TD 96/28 does not have application to income tax years commencing on or after the 1999-2000 income year.
Commissioner of Taxation
7 August 2013
Previously issued as Draft TD 96/D3
References
ATO references:
NO 1-2AE46NU
Date: | Version: | Change: | |
12 June 1996 | Original ruling | ||
You are here | 7 August 2013 | Withdrawn |
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