Miscellaneous Taxation Ruling

MT 93/1W

Income tax: petroleum resource rent tax: public rulings and advance opinions

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FOI status:

Notice of Withdrawal

Miscellaneous Taxation Ruling MT 93/1 is withdrawn with effect from today. However, it continues to apply to requests for rulings and administratively binding advice made before the withdrawal. It does not apply to requests made after the withdrawal.

1. Miscellaneous Taxation Ruling MT 93/1 outlined the system of public rulings introduced for the Petroleum Resource Rent Tax Assessment Act 1987 and the circumstances under which advance opinions would be given concerning the application of provisions of that Act. Changes made to Law Administration Practice Statement PSLA 2001/4 from today to include express reference to petroleum resource rent tax (PRRT) issues remove the need for the ruling.

2. Amendments to PSLA 2001/4 that expressly refer to petroleum resource rent tax issues apply from today, 14 July 2004.

3. The discussion in MT 93/1 of rulings and administratively binding advice relied on the terminology and content of Taxation Ruling IT 2500, which was withdrawn and replaced by PSLA 2001/4. The use of the MT series in relation to PRRT is sufficiently explained by TR 92/1 and PS LA 2001/4. Processes for rulings and administratively binding advice on PRRT are now consistent with those for other rulings and administratively binding advice in areas of law to which the legally binding ruling system in the Taxation Administration Act 1953 does not apply.

Commissioner of Taxation
14 July 2004

References

ATO references:
NO 2003/11684