Published on 16 Dec 02
by THE TAX INSTITUTE
There are 3 general criticisms which can be made in relation to the draft ruling. First, in an effort to provide simplicity and certainty in this area of the law, there is a tendency in the draft ruling to skip over crucial aspects of the reasoning process. Second, the views set out in relation to income guarantees are not, in our view, correct. Third, the concept that there is a supply by a landlord in accepting an assignment of a lease appears to create implications that go far beyond the draft ruling and should be further considered before becoming part of any final ruling.
INSTITUTE OF CHARTERED ACCOUNTANTS IN AUSTRALIA
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TAXATION INSTITUTE OF AUSTRALIA
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NATIONAL INSTITUTE OF ACCOUNTANTS