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Tax Case: Public rulings deficient - no SAP?

Published on 01 Mar 04 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The Commissioner of Taxation will need to reconsider the terms of Taxation Ruling IT 2360 (issued 12 September 1986) and Taxation Ruling IT 2497 (issued 6 October 1988) after they came under criticism in a recent Federal Court judgment. The case has important ramifications for the Commissioner's ability to define limits to his exercise of general discretions given to him by tax legislation. It also sheds valuable light on the Commissioner's power to grant substituted accounting periods.

Author profile:

Chris TAPPERE
Chris is a Senior Associate with Freehills.
Current at March 2004
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