Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

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Sch 1 inserted by No 178 of 1999 (as amended by No 179 of 1999 and No 44 of 2000).

Note: See section 3AA .

Chapter 5 - Administration  

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Ch 5 title inserted by No 73 of 2006 , s 3 and Sch 5 item 44, effective 1 July 2006.

PART 5-5 - RULINGS  

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Pt 5-5 inserted by No 179 of 1999.

Division 362 - Rulings by Industry Innovation and Science Australia that activities are not ineligible activities  

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Div 362 heading amended by No 101 of 2021, s 3 and Sch 1 item 5(e), by substituting " Industry Innovation and Science Australia " for " Innovation and Science Australia " , effective 11 September 2021.

Div 362 heading amended by No 63 of 2016, s 3 and Sch 1 item 48(d), by substituting " Innovation and Science Australia " for " Innovation Australia " , effective 20 October 2016.

Div 362 inserted by No 54 of 2016, s 3 and Sch 2 item 61, applicable in relation to the 2016-17 income year and later income years.

Guide to Division 362  

SECTION 362-1   WHAT THIS DIVISION IS ABOUT  

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Industry Innovation and Science Australia may make public rulings and private rulings expressing its view on whether activities are not ineligible activities for the purposes of applying capital gains tax provisions to venture capital investments.

Note:

An entity ' s involvement in ineligible activities can affect whether an investment is an eligible venture capital investment for the purpose of accessing a capital gains tax exemption under Subdivision 118-F of the Income Tax Assessment Act 1997 .

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S 362-1 amended by No 101 of 2021, s 3 and Sch 1 item 5(c), by substituting " Industry Innovation and Science Australia " for " Innovation and Science Australia " , effective 11 September 2021.

S 362-1 amended by No 63 of 2016, s 3 and Sch 1 item 48(c), by substituting " Innovation and Science Australia " for " Innovation Australia " , effective 20 October 2016.

S 362-1 inserted by No 54 of 2016, s 3 and Sch 2 item 61, applicable in relation to the 2016-17 income year and later income years.

TABLE OF SECTIONS

TABLE OF SECTIONS

Public rulings by Industry Innovation and Science Australia
362-5	Industry Innovation and Science Australia may make public rulings on a specified class of activities
362-10	Application of public rulings
362-15	When a public ruling ceases to apply
362-20	Withdrawing public rulings
Private rulings by Industry Innovation and Science Australia
362-25	Industry Innovation and Science Australia may make private rulings on a specified activity
362-30	Applying for a private ruling
362-35	Industry Innovation and Science Australia must give notice of its decision
362-40	Private rulings must contain certain details
362-45	Application of private rulings
362-50	Delays in making private rulings
362-55	When a private ruling ceases to apply
362-60	Withdrawing private rulings
General provisions
362-65	When rulings are binding on the Commissioner and Industry Innovation and Science Australia
362-70	Application of common rules under Subdivision 357-B
362-75	Application of Divisions 358 and 359

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