Taxation Ruling
IT 2497W - Notice of Withdrawal
Income tax: substituted accounting periods: large investment or property (unit) trusts
may be released
Notice of Withdrawal
Taxation Ruling IT 2497 is withdrawn with effect from today.
1. Taxation Ruling IT 2497 discusses the treatment to be given to applications by large investment or property trusts, which may have many thousands of investors/beneficiaries generally referred to as unit holders, for leave under subsection 18(1) of the Income Tax Assessment Act 1936 to adopt accounting periods ending on some date other than 30 June each year.
2. This Ruling is withdrawn and replaced by PS LA 2007/21 with effect from 29 August 2007.
Commissioner of Taxation
29 August 2007