Taxation Determination

TD 2003/29W

Income tax: Simplified Tax System: can an entity that has notified the Commissioner of its choice to stop being an STS taxpayer for an income year, later cancel that choice for that year?

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Notice of Withdrawal

Taxation Determination TD 2003/29 is withdrawn with effect from today.

1. TD 2003/29 explains that where an entity has notified the Commissioner of its choice to stop being an STS taxpayer under paragraph 328-440(1)(a) of the Income Tax Assessment Act 1997 (ITAA 1997) for an income year, it cannot later cancel that choice for that year. The entity can only become an STS taxpayer again if it satisfies subsection 328-440(3) of the ITAA 1997.

2. TD 2003/29 relates to the STS provisions in former Subdivision 328-G of the ITAA 1997, which were repealed with effect from 21 June 2007.

3. TD 2003/29 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation
7 December 2016

© 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).

Previously released in draft form as TD 2003/D18.

References

ATO references:
NO 1-9N72KXS

Related Rulings/Determinations:

TR 92/1
TR 92/20
TR 97/16

Subject References:
leaving the STS
simplified tax system
STS taxpayers

Legislative References:
ITAA 1997 Div 328
ITAA 1997 Div 328-435
ITAA 1997 328-440(1)(a)
ITAA 1997 328-440(3)
TAA 1953 Part IVAAA