Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p10
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 10/14)
Character Range: 1661604–1664561

the Commissioner's view about how certain laws administered by the Commissioner apply to you so that the risks to you of uncertainty when you are self assessing or working out your tax obligations or entitlements are reduced.
 (2) This object is achieved by:
 (a) making advice in the form of rulings by the Commissioner available on a wide range of matters and to many taxpayers; and
 (b) ensuring that the Commissioner provides rulings in a timely manner; and
 (c) enabling the Commissioner to obtain, and make rulings based on, relevant information; and
 (d) protecting you from increases in tax and from penalties and interest where you rely on rulings; and
 (e) protecting you from decreases in entitlements where you rely on rulings; and
 (f) limiting the ways the Commissioner can alter rulings to your detriment; and
 (g) giving you protection from interest charges where you rely on other advice from the Commissioner, or on the Commissioner's general administrative practice.
 (3) A further object of this Part is to provide a way for you to find out *Industry Innovation and Science Australia's view about whether activities are not ineligible activities for the purposes of applying capital gains tax provisions to venture capital investments.
Note: For rulings by Industry Innovation and Science Australia: see Division 362.

Subdivision 357‑B—Common rules for rulings

Table of sections

Rules for all rulings
357‑50 Scope of Division
357‑55 The provisions that are relevant for rulings
357‑60 When rulings are binding on the Commissioner
357‑65 Stopping relying on a ruling
357‑70 Commissioner may apply the law if more favourable than the ruling
357‑75 Inconsistent rulings
357‑80 Contracts for schemes
357‑85 Effect on ruling if relevant provision re‑enacted
357‑90 Validity of ruling not affected by formal defect

Common rules for public and private rulings
357‑95 Electronic communications

Common rules for private and oral rulings
357‑105 Further information must be sought
357‑110 Assumptions in making private or oral ruling
357‑115 Additional information provided by applicant
357‑120 Commissioner may take into account information from third parties
357‑125 Applications and objections not to affect obligations and powers

Rules for all rulings

357‑50  Scope of Division
  This Division applies to *public rulings, *private rulings and *oral rulings.
Note: Section 362‑70 modifies how this Subdivision applies to rulings by Industry Innovation and Science Australia.

357‑55  The provisions that are relevant for rulings
  Provisions of Acts and regulations of which the Commissioner has the general administration are relevant for rulings if the provisions are about any of the following:
 (a) *tax;
 (b) *Medicare levy;
 (c) fringe benefits tax;
 (d) *franking tax;
 (e) *withholding tax;
 (f) *mining withholding tax;
 (fa) *petroleum resource rent tax;
 (fb) *indirect tax;
 (fc) *excise duty;
 (fd) levy under the Major Bank