Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p5
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 5/7)
Character Range: 1701873–1704723

Australia
362‑70 Application of common rules under Subdivision 357‑B
362‑75 Application of Divisions 358 and 359

Public rulings by Industry Innovation and Science Australia

362‑5  Industry Innovation and Science Australia may make public rulings on a specified class of activities
 (1) *Industry Innovation and Science Australia may make a ruling that Industry Innovation and Science Australia considers that activities included in a specified class of activities:
 (a) are not ineligible activities for the purposes of subsections 118‑425(13) and 118‑427(14) of the Income Tax Assessment Act 1997; or
 (b) in specified circumstances, are not such ineligible activities;
if Industry Innovation and Science Australia is satisfied that the activities included in that class are not such ineligible activities, or are not in those circumstances such ineligible activities, as the case requires.
Note: An activity will not be an ineligible activity for the purposes of subsections 118‑425(13) and 118‑427(14) of the Income Tax Assessment Act 1997 if, for example, it is covered by subsections 118‑425(13A) and 118‑427(14A) of that Act.
 (2) Such a ruling is a public ruling if it:
 (a) is published; and
 (b) states that it is a public ruling.
 (3) *Industry Innovation and Science Australia must, by notifiable instrument, publish notice of the making of a *public ruling.
Note: The validity of a ruling is not affected merely because a provision of this Part relating to the form of the ruling or the procedure for making it has not been complied with: see section 357‑90.

362‑10  Application of public rulings
  A *public ruling under this Division applies from the time it is published or from such earlier or later time as is specified in the ruling.

362‑15  When a public ruling ceases to apply
 (1) A *public ruling under this Division may specify the time at which it ceases to apply.
 (2) If a *public ruling under this Division does not do this, it applies until it is withdrawn.

362‑20  Withdrawing public rulings
 (1) *Industry Innovation and Science Australia must, by notifiable instrument, withdraw a *public ruling made under this Division if:
 (a) it is no longer satisfied of the matter about which it was required to be satisfied under subsection 362‑5(1); or
 (b) the ruling is inconsistent with a decision of a court.
 (2) The withdrawal takes effect from the time specified in the instrument. That time must not be before the day after the instrument is registered on the Federal Register of Legislation under the Legislation Act 2003.

Private rulings by Industry Innovation and Science Australia

362‑25  Industry Innovation and Science Australia may make private rulings on a specified activity
 (1) *Industry Innovation and Science Australia may, on application, make a ruling that Industry Innovation and Science Australia