Income Tax Assessment Act 1936

S 170BA repealed by No 161 of 2005, s 3 and Sch 2 item 5, applicable to things done on or after 1 January 2006. S 170BA formerly read:

SECTION 170BA EFFECT OF PUBLIC RULING ON TAX OTHER THAN WITHHOLDING TAX  
170BA(1)
In this section:

'final tax'
, in relation to a person, means ruling affected tax payable in relation to the person after allowing:

(a) a credit within the meaning of Division 19 of Part III ; or

(b) an offset within the meaning of Division 1 of Part IIIAA ;

'ruling affected tax'
means:

(a) income tax; or

(b) franking deficit tax; or

(ba) venture capital deficit tax; or

(bb) over-franking tax; or

(c) Medicare levy;

but does not include withholding tax;

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History

Definition of ``ruling affected tax'' amended by No 23 of 2005, s 3 and Sch 3 item 53, by substituting paras (b), (ba) and (bb) for para (b), applicable in relation to events that occur on or after 1 July 2002. Para (b) formerly read:

(b) franking deficit tax within the meaning of Part IIIAA; or

'withholding tax'
includes mining withholding tax.

170BA(2)
Expressions used in this section have the same meanings as in Part IVAAA of the Taxation Administration Act 1953.

170BA(3)
Subject to sections 170BC and 170BDA , if:

(a) there is a public ruling on the way in which an income tax law applies to a person in relation to an arrangement ( ``ruled way'' ); and

(b) that law applies to a person in relation to that arrangement in a different way; and

(c) the amount of final tax under an assessment in relation to that person would (apart from this section and sections 170BC and 170BDA ) exceed what it would have been if that law applied in the ruled way;

the assessment and amount of final tax must be what they would be if that law applied in the ruled way.

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History

S 170BA(3) amended by No 179 of 1999.

S 170BA inserted by No 101 of 1992.