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Private binding rulings – are they worthwhile?

Published on 01 Oct 08 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

Many tax professionals counsel against taxpayers seeking a private binding ruling (PBR) on income tax issues from the Tax Office, except in fairly limited circumstances. This article provides some background as to why such views are held. It sets out the workings of the current PBR system and the advantages and disadvantages of obtaining and/or relying on a PBR.

Author profile:

Helen WARNER
Senior Advisor, Office of the Inspector-General of Taxation, Helen holds a Bachelor of Economics and Bachelor of Laws (with Honours) from the University of Sydney. She is currently a Senior Adviser with the Inspector-General of Taxation, where her role is to conduct investigations into the Australian Tax Office on matters of tax administration.
Current at October 2008 Current at 09 March 2009 Click here to expand/collapse more articles by Helen WARNER.
 

 

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