Taxation Ruling
IT 2451W - Notice of Withdrawal
Income tax: Investor funding of research and development activities
-
Please note that the PDF version is the authorised version of this withdrawal notice.
Notice of Withdrawal
Taxation Ruling IT 2451 is withdrawn with effect from today.
1. Taxation Ruling IT 2451 was issued on 26 November 1987. The Ruling provides guidance on the concession for investor funding of research and development activities and the 'on own behalf' requirement provided in section 73B of the Income Tax Assessment Act 1936.
2. As a result of legislative changes some of the guidance contained in IT 2451 is no longer current.
3. Material in IT 2451 which is current is now included in Part C of the Guide to the R&D Tax Concession accessible at law.ato.gov.au. The withdrawal of IT 2451 does not mean that the views expressed in that Ruling have changed.
4. IT 2451 continues to apply to arrangements that commenced before the withdrawal (except for those parts of the Ruling superseded by legislative change prior to the withdrawal). IT 2451 does not apply to arrangements carried out after the withdrawal.
Commissioner of Taxation
6 August 2008
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
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).
