Taxation Ruling IT 1A - Addendum - Taxation Ruling System: explanation and status







1. This addendum deals with the changes needed to Taxation Ruling No. 1 as a result of the Taxation Laws Amendment (Self Assessment) Act 1992 ('SAA'). | 2. The SAA introduced a new system of binding public rulings under the income tax law and the fringe benefits tax law. Taxation Ruling TR 92/1 explains the new system including the legal status and binding effects of public rulings. | 3. Taxation Ruling No. 1 (first 2 sentences of the fourth paragraph) explains that a Taxation Ruling cannot supplant the terms of the law and that it does not have the effect of an estoppel against the operation of the law. | 4. Taxation Ruling No. 1 does not apply in this respect to a Taxation Ruling or Taxation Determination to the extent that it is a favourable public ruling for the purposes of the SAA (Taxation Ruling TR 92/1 explains what is meant by a favourable public ruling). In essence, Taxation Ruling No. 1 does not apply to a Taxation Ruling or Taxation Determination made on or after 1 July 1992 to the extent that it: | except in relation to any arrangement begun to be carried out before 1 July 1992. | 5. Taxation Ruling No. 1 applies to any Taxation Ruling or Taxation Determination to the extent that it does not meet the description in paragraph 4 above e.g. a Taxation Ruling on administrative or collection aspects of the law which do not affect a taxpayer's final liability to tax. | Commissioner of Taxation 6 August 1992


Related rulings: IT 1 IT 1A (Second Addendum) IT 1A (Third Addendum)