Taxation Ruling

IT 2059W - Withdrawal

Income tax: trust stripping: pre-Part IVA assessing guidelines

• 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Taxation Ruling IT 2059 is withdrawn with effect from today.

1. Taxation Ruling IT 2059 established assessment guidelines for trust stripping schemes which were entered into prior to 27 May 1981 and which were not subject to the provisions of Part IVA of the Income Tax Assessment Act 1936. The guidelines are no longer applicable.

2. IT 2059 was the subject of a Notice of Archival on 9 September 1993.

3. IT 2059 is now being withdrawn in accordance with paragraph 5 of Addendum No. 3 to Taxation Ruling IT 1 Taxation Ruling System: explanation and status, which states: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 2059E
IT 2059x