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Taxation Ruling

IT 2433W - Notice of Withdrawal


Income tax : substituted accounting periods : adjustments to taxable income



Notice of Withdrawal

Taxation Ruling IT 2433 is withdrawn with effect from today.

1. IT 2433 relates to subsection 18(1) of the Income Tax Assessment Act 1936 (ITAA 1936) which deals with the Commissioner's discretion to grant leave to taxpayers to use substituted accounting periods. The ruling explains the adjustments required for the former company quarterly tax instalment payment system in the transitional year when a company adopts a substituted accounting period.

2. IT 2433 refers to Taxation Ruling IT 2360, which was withdrawn on 29 August 2007, and the provisions in Part VI of Division VI of the ITAA 1936 (relating to the former company quarterly tax instalment) have been repealed by the Tax Law Amendment (Transfer of Provisions) Act 2010.

3. IT 2433 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation

19 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

ISSN: 2205-6122

Related Rulings/Determinations:
IT 2433

 


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