Taxation Ruling

IT 2136W - Notice of Withdrawal

Reduction of provisional tax - in certain circumstances where sub-section 100(2) applies

• Please note that the PDF version is the authorised version of this withdrawal notice.

FOI status:

may be released

Notice of Withdrawal

Taxation Ruling IT 2136 is withdrawn with effect from today.

1. Taxation Ruling IT 2136 explains the way in which provisional tax is calculated where:

(a)

a taxpayer is a beneficiary of a trust estate;

(b)

the beneficiary's share of the net income of the trust estate includes prescribed payment income from which tax has been deducted; and

(c)

the beneficiary will be assessed under section 100 of the Income Tax Assessment Act 1936 (ITAA 1936).

2. Subsection 221YBA(1) of the ITAA 1936 has the effect that provisional tax liabilities are no longer calculated in respect of income years commencing on 1 July 2000. IT 2136 does not have application to income tax years commencing on or after that date.

Commissioner of Taxation
6 September 2006

References

ATO references:
NO 2005/18404

Related Rulings/Determinations:

IT 2136