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Taxation Ruling

IT 2672W - Notice of Withdrawal


Income tax: deductibility of costs of amending a superannuation fund trust deed



Notice of Withdrawal

Taxation Ruling IT 2672 is withdrawn with effect from today.

1. IT 2672 discusses the circumstances in which costs incurred by a trustee or employer-sponsor of a superannuation fund in making amendments to the superannuation fund's trust deed are allowable income tax deductions under former subsection 51(1) of the Income Tax Assessment Act 1936 (effectively now section 8-1 of the Income Tax Assessment Act 1997 ).

2. The content of IT 2672 that relates to the treatment of costs incurred by a trustee has been incorporated into changes to Taxation Ruling TR 93/17 Income tax: income tax deductions available to superannuation funds. The Addendum to that Ruling issued today.

3. The treatment of costs incurred by an employer-sponsor in satisfying a liability of an employer-sponsored superannuation fund is covered by Taxation Ruling TR 2010/1 Income tax: superannuation contributions.

4. As the content of IT 2672 is covered by other Rulings, it is now withdrawn.

Commissioner of Taxation

17 May 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 2672

 


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