SCHEDULE 1
-
COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
History
Sch 1 inserted by No 178 of 1999 (as amended by No 179 of 1999 and No 44 of 2000).
Note: See section
3AA
.
Chapter 5
-
Administration
History
Ch 5 title inserted by
No 73 of 2006
, s 3 and Sch 5 item 44, effective 1 July 2006.
PART 5-5
-
RULINGS
History
Pt 5-5 inserted by No 179 of 1999.
Division 362
-
Rulings by Industry Innovation and Science Australia that activities are not ineligible activities
History
Div 362 heading amended by No 101 of 2021, s 3 and Sch 1 item 5(e), by substituting
"
Industry Innovation and Science Australia
"
for
"
Innovation and Science Australia
"
, effective 11 September 2021.
Div 362 heading amended by No 63 of 2016, s 3 and Sch 1 item 48(d), by substituting
"
Innovation and Science Australia
"
for
"
Innovation Australia
"
, effective 20 October 2016.
Div 362 inserted by No 54 of 2016, s 3 and Sch 2 item 61, applicable in relation to the 2016-17 income year and later income years.
Public rulings by Industry Innovation and Science Australia
History
Subdiv 362-5 heading amended by No 101 of 2021, s 3 and Sch 1 item 5(e), by substituting
"
Industry Innovation and Science Australia
"
for
"
Innovation and Science Australia
"
, effective 11 September 2021.
SECTION 362-5
INDUSTRY INNOVATION AND SCIENCE AUSTRALIA MAY MAKE PUBLIC RULINGS ON A SPECIFIED CLASS OF ACTIVITIES
362-5(1)
*Industry Innovation and Science Australia may make a ruling that Industry Innovation and Science Australia considers that activities included in a specified class of activities:
(a)
are not ineligible activities for the purposes of subsections
118-425(13)
and
118-427(14)
of the
Income Tax Assessment Act 1997
; or
(b)
in specified circumstances, are not such ineligible activities;
if Industry Innovation and Science Australia is satisfied that the activities included in that class are not such ineligible activities, or are not in those circumstances such ineligible activities, as the case requires.
Note:
An activity will not be an ineligible activity for the purposes of subsections
118-425(13)
and
118-427(14)
of the
Income Tax Assessment Act 1997
if, for example, it is covered by subsections
118-425(13A)
and
118-427(14A)
of that Act.
History
S 362-5(1) amended by No 101 of 2021, s 3 and Sch 1 items 5(a) and (c), by substituting
"
*Industry Innovation and Science Australia
"
for
"
*Innovation and Science Australia
"
and
"
Industry Innovation and Science Australia
"
for
"
Innovation and Science Australia
"
(wherever occurring), effective 11 September 2021.
S 362-5(1) amended by No 124 of 2018, s 3 and Sch 3 item 4, by inserting the note at the end of the subsection, effective 1 January 2019 and applicable in relation to investments made on or after 1 July 2018.
S 362-5(1) amended by No 63 of 2016, s 3 and Sch 1 items 48(a) and (c), by substituting
"
*Innovation and Science Australia
"
for
"
*Innovation Australia
"
and
"
Innovation and Science Australia
"
for
"
Innovation Australia
"
(wherever occurring), effective 20 October 2016.
362-5(2)
Such a ruling is a
public ruling
if it:
(a)
is published; and
(b)
states that it is a public ruling.
362-5(3)
*Industry Innovation and Science Australia must, by notifiable instrument, publish notice of the making of a *public ruling.
Note:
The validity of a ruling is not affected merely because a provision of this Part relating to the form of the ruling or the procedure for making it has not been complied with: see section
357-90
.
History
S 362-5(3) amended by No 101 of 2021, s 3 and Sch 1 item 5(a), by substituting
"
*Industry Innovation and Science Australia
"
for
"
*Innovation and Science Australia
"
, effective 11 September 2021.
S 362-5(3) amended by No 64 of 2020, s 3 and Sch 3 item 315, by substituting
"
must, by notifiable instrument, publish notice of the making of a *public ruling
"
for
"
must publish notice of the making of a *public ruling in the Gazette
"
, effective 1 October 2020. For transitional provisions, see note under s
16-153(7)
.
S 362-5(3) amended by No 63 of 2016, s 3 and Sch 1 item 48(a), by substituting
"
*Innovation and Science Australia
"
for
"
*Innovation Australia
"
, effective 20 October 2016.
History
S 362-5 inserted by No 54 of 2016, s 3 and Sch 2 item 61, applicable in relation to the 2016-17 income year and later income years.
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