Law Companion Guideline
LCG 2015/1A1 - Addendum
Law Companion Guidelines: purpose, nature and role in ATO's public advice and guidance
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Please note that the PDF version is the authorised version of this ruling.View the consolidated version for this notice.
Addendum
This Addendum amends Draft Law Companion Guideline LCG 2015/D1 following consultation.
LCG 2015/D1 is amended as follows:
At the top of all pages, insert:
Page status: legally binding
2. First page header and all footers
Omit 'Draft Law Companion Guideline LCG 2016/D1'; substitute 'Law Companion Guideline LCG 2016/1'.
Omit 'Proposed preamble when finalised'; substitute 'Relying on this Guideline'
Omit:
| What this draft Guideline is about | 1 |
| Proposed date of effect | 3 |
Insert:
| What this Guideline is about | 1 |
| Date of effect | 3 |
| Example 5 | 34A |
Omit 'draft' from the heading and paragraph.
Omit 'draft'.
Omit 'draft'.
(a) Omit the heading; substitute 'Date of effect'.
(b) Omit the paragraph; substitute 'This Guideline applies before and after its date of issue.'
In the first sentence, omit 'go'.
In the second dot point, at the second instance, omit 'draft'.
Omit the paragraph; substitute:
12. The content in a Guideline is usually prepared contemporaneously with the development of the policy and the drafting of the Bill and Explanatory Memorandum. Throughout the legislative process, the ATO typically consults with Treasury and industry, and often this continues after introduction. In this way, a Guideline will often represent the considered views of the Commissioner, informed by a reasonable understanding of the intended policy and the compliance realities facing taxpayers at the very time that the law itself is shaped.
Omit the second sentence; substitute:
'(see Date of Effect from paragraph 35 of this Guideline).'
After the paragraph, insert:
22A. Where appropriate in the context of the particular consultation process, a compendium may be prepared for a Guideline in the same manner that they are prepared for a public ruling.
Omit the paragraph; substitute:
23. Ordinarily, a Guideline can be expected to be finalised in a manner consistent with the draft upon the new law coming into force. This will not be the case where there are good and substantial reasons to depart from the draft Guideline. 'Good and substantial reasons' include where significant changes are made to the Bill, or matters are raised in further consultation.
After the word draft, insert ', such as when adequate consultation has already occurred'
Omit 'shown above).'; substitute 'shown above).[2A]'
After the last sentence, insert:
'In this case, the Commissioner would not amend or withdraw the Guideline with retrospective effect.'
After the paragraph, insert:
Example 5
34A The Commissioner publishes a Guideline on a new law that creates a deduction. It is clear on reading the Guideline as a whole that the Commissioner's view is that Veronica is not entitled to the deduction. However, Veronica relies on a single sentence in the Guideline to support her claim for a deduction. Reliance on a single sentence in isolation is not relying on the Guideline in good faith and Veronica is not protected.
(a) Omit the first sentence.
(b) At the beginning of the second sentence omit 'Further specific'; substitute 'Over time, supplementary'.
(a) In the first sentence omit 'proposes to publish'; substitute 'publishes'.
(b) Omit 'Guidelines.'; substitute 'Guidelines.[5]'.
(c) At the beginning of the second sentence omit 'will be'; substitute 'are'.
After the paragraph, omit:
Commissioner of Taxation
10 March 2016
Substitute
Commissioner of Taxation
3 June 2016
Omit the heading and paragraph.
(a) Omit 'Income tax ~~ Administration ~~ Public rulings'; substitute 'Administration ~~ Other'
(b) Insert 'TAA 1953 Sch 1 357-55'.
(c) Insert 'PCG 2016/1'.
This Addendum applies on and from 3 June 2016.
Commissioner of Taxation
3 June 2016
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References
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You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
