Taxation Ruling
IT 198H - Notice of Archival
Gratuitous benefits, value of holidays - assessability
may be released
NOTICE OF ARCHIVAL
Taxation Ruling IT 198 is no longer current and has been archived.
The Ruling applied for the purposes of applying paragraph 26(e), paragraph 26(ea), section 26AAAA and subparagraphs 221C(4) and (5) of the Income Tax Assessment Act 1936 to include in assessable income certain kinds of non-cash benefit provided to an employee.
The Ruling does not apply to benefits of this kind provided to an employee on or after 1 July 1986.
The Ruling also applied for the purpose of applying subsection 25(1) of the Income Tax Assessment Act 1936 to include the value of non-cash benefits in assessable income even if the provisions referred to in paragraph 2 above did not apply.
The Ruling does not apply to such benefits provided on or after 5 February 1985, the date on which section 21A of the Income Tax Assessment Act 1936 came into effect.
COMMISSIONER OF TAXATION
9 September 1993