Product Ruling

PR 2019/7A2 - Addendum

Income tax: PPS Mutual Professionals Choice - 2019

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Addendum

This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Product Ruling PR 2019/7 to reflect the repeal of the Income Tax Assessment Regulations 1997 and the commencement of the Income Tax Assessment (1997 Act) Regulations 2021.

PR 2019/7 is amended as follows:

1. Preamble

Omit Preamble; substitute:

This publication (excluding appendixes) is a public ruling for the purposes of the Taxation Administration Act 1953.

If this Ruling applies to you, and you correctly rely on it, we will apply the law to you in the way set out in this Ruling. That is, you will not pay any more tax or penalties or interest in respect of the matters covered by this Ruling.

2. Paragraph 96

After the words '(ITAR 1997)', insert new footnote 1A:

^1A On 1 April 2021, the ITAR 1997 was repealed and the Income Tax Assessment (1997 Act) Regulations 2021 (ITAR (1997 Act) 2021) commenced. From 1 April 2021, the term 'terminal medical condition' is defined in section 995-1.06 of the ITAR (1997 Act) 2021, and the references to regulation 303-10.01 of the ITAR 1997 in this Product Ruling should be read to mean section 995-1.06 of the ITAR (1997 Act) 2021.

This Addendum applies before and after the date of issue.

Commissioner of Taxation
27 April 2022

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO 1-STPK8KS

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