Taxation Ruling
IT 2440W - Notice of Withdrawal
Income tax: individuals: release from payment of tax on grounds of serious hardship: guidelines for determining the existence of serious hardship
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Please note that the PDF version is the authorised version of this withdrawal notice.
Notice of Withdrawal
Taxation Ruling IT 2440 is withdrawn with effect from today.
1. Taxation Ruling IT 2440 considers the circumstances in which it is appropriate to release an individual from payment of tax on the grounds of serious hardship and provides guidelines for determining the existence of serious hardship.
2. IT 2440 is withdrawn because of the repeal of section 265 of the Income Tax Assessment Act 1936. Division 340 has been inserted into Schedule 1 of the Taxation Administration Act 1953 to provide an avenue for individuals and trustees of deceased estates to apply for release from payment of tax.
3. The guidelines in IT 2440 that continue to have application are contained in Chapter 24 of the ATO Receivables Policy.
Commissioner of Taxation
28 April 2010