Income Tax Assessment Act 1936

S 170BB repealed by No 161 of 2005, s 3 and Sch 2 item 5, applicable to things done on or after 1 January 2006.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

SECTION 170BB EFFECT OF PRIVATE RULINGS ON TAX OTHER THAN WITHHOLDING TAX  
170BB(1)
In this section:

'final tax'
has the same meaning as in section 170BA .

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

170BB(3)
Subject to sections 170BC , 170BG and 170BH , if:

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

(b) that law applies to that person in respect of that year 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 section 170BC ) 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.

170BB(4)
Subsection (3) applies to an assessment whether or not in respect of the year of income in paragraphs (3)(a) and (b).

S 170BB inserted by No 101 of 1992.