Taxation Ruling

IT 136W - Withdrawal

Income tax: tax avoidance schemes: unit trusts

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

FOI status:

may be released

NOTICE OF WITHDRAWAL

Taxation Ruling IT 136 is withdrawn with effect from today.

1. Taxation Ruling IT 136 deals with the reorganisation of operations of a business by establishing a unit trust for the benefit of the shareholders and their families and the possible application of Part IVA of the Income Tax Assessment Act 1936. Subsequent to the drafting of IT 136, Part IIIAA and Part IIIA of that Act have been introduced. Both Part IIIAA and Part IIIA would have some effect on the structure proposed in the Ruling.

2. IT 136 was the subject of a Notice of Archival on 8 December 1994.

3. IT 136 is now being withdrawn in accordance with paragraph 5 of Addendum No. 3 to Taxation Ruling IT 1 Taxation Ruling System: explanation and status, which states:

We will withdraw progressively all Rulings in the IT series for which we have issued Notices of Archival.

Commissioner of Taxation
17 May 2006

References

ATO references:
NO 2005/18404

Related Rulings/Determinations:

IT 136