Private ruling: Withholding tax and Part IVA
Published: November 2014

Ruling: What this ruling is about: | In order to protect the privacy and commercial in-confidence components of this private binding ruling the following summary is provided. | The taxpayer proposes to enter into a debt factoring arrangement. | The Commissioner ruled that: | • The taxpayer will not be liable to withhold and remit from certain amounts under section 12-245 or 12-250 of the Taxation Administration Act 1953 ); | • Based on the facts provided Part IVA of the Income Tax Assessment Act 1936 will not apply to the scheme.


Relevant legislative provisions: Taxation Administration Act 1953 section 12-245, | Taxation Administration Act 1953 section 12-250 and | Income Tax Assessment Act 1936 section 177F.