Taxation Ruling

IT 2553W - Notice of Withdrawal

Income tax: assessability of a lump sum payment received by an employee for the surrender of valuable rights granted by an employer

• 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Taxation Ruling IT 2553 is withdrawn with effect from today.

The Ruling is no longer necessary. It advises that the Commissioner accepts the decision of the Full Federal Court in FC of T v McArdle 89 ATC 4051; 19 ATR 1901. The Ruling does not provide any additional interpretation of the law to that provided by the case.

Commissioner of Taxation
5 August 1998

References

ATO references:
NO NAT 98/3350-1

Related Rulings/Determinations:

IT 2553