IT 2163W - Notice of Withdrawal
Income tax: purchase and sale of import quota
Notice of Withdrawal
Taxation Ruling IT 2163 is withdrawn with effect from today.
1. IT 2163 explains the effect of the Federal Court decision in Federal Commissioner of Taxation v. Merv Brown Pty Ltd (1985) 7 FCR 1; (1985) 16 ATR 218; (1985) 85 ATC 4080 on Taxation Ruling IT 2002, which deals with the purchase and sale of import quota.
2. IT 2002 has been withdrawn as the quota system for the importation of finished textiles has been abolished.
3. IT 2163 therefore has no ongoing relevance and is withdrawn without replacement.
Commissioner of Taxation
5 April 2017
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