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Taxation Ruling

IT 2319W - Notice of Withdrawal


Income tax : director's fees paid by subsidiary company to full time or part time director of the parent company - requirement on director to pay fees to parent company



Notice of Withdrawal

Taxation Ruling IT 2319 is withdrawn with effect from today.

1. IT 2319 deals with the requirement of an employer to make tax instalment deductions from directors' fees paid by subsidiary companies to directors of parent companies pursuant to the former PAYE provisions under sections 221A, 221C and 221D of the Income Tax Assessment Act 1936.

2. These sections were repealed by the Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006, which came into effect on 14 September 2006, and superseded by the PAYG (withholding) regime in Part 2-5 of Chapter 2 in Schedule 1 to the Taxation Administration Act 1953.

3. IT 2319 therefore has no ongoing relevance and is withdrawn without replacement.

Commissioner of Taxation

5 April 2017

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO  1-9N72KXS

Related Rulings/Determinations:
IT 2319

 


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