Taxation Determination

TD 2003/30W

Income tax: Simplified Tax System: can an entity that has notified the Commissioner of its choice to become an STS taxpayer for an income year later revoke that choice in respect of that year?

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Notice of Withdrawal

Taxation Determination TD 2003/30 is withdrawn with effect from today.

1. TD 2003/30 explains that an entity that has notified the Commissioner of its choice to enter the STS for an income year under paragraph 328-435(b) of the Income Tax Assessment Act 1997 (ITAA 1997), cannot later revoke its choice in respect of that year. Under paragraph 328-440(1)(a) of the ITAA 1997 an entity can stop being an STS taxpayer for the next income year by notifying the Commissioner of its choice.

2. TD 2003/30 relates to STS provisions in former Subdivision 328-G of the ITAA 1997, which were repealed with effect from 21 June 2007.

3. TD 2003/30 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation
7 December 2016

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

Previously released in draft form as TD 2003/D19.

References

ATO references:
NO 1-9N72KXS

Related Rulings/Determinations:

TR 92/1
TR 92/20
TR 97/16

Subject References:
leaving the STS
simplified tax system
STS taxpayers

Legislative References:
ITAA 1997 Subdiv 328-G
ITAA 1997 328-435
ITAA 1997 328-435(b)
ITAA 1997 328-440(1)(a)
ITAA 1997 328-440(1)(b)
ITAA 1997 328-440(2)
TAA 1953 Part IVAAA