CRP suitable for business
The Commissioner of Taxation has limited powers to modify the operation of tax law in circumstances where entities will benefit, or at least be no worse off, as a result of the modification. This power is known as the Commissioner's remedial power (CRP).
The following information describes situations where the Commissioner has used the CRP to modify the operation of the law applying to business.
Small business restructure roll-over
The determination is Taxation Administration (Remedial Power – Small Business Restructure Roll-over) Determination 2017.
Affected provisions
The affected provisions are in the Income Tax Assessment Act 1997:
Dates of effect and cessation
The determination came into effect on 9 May 2018.
It will cease to be in effect on 1 April 2028.