Update Section 45B guidance | Board of Taxation

Submitted by

Moderator - Board of Taxation Secretariat

Topic

Tell it to the Tax Office: Administrative fixes

Date

09/03/2016

Issue

Update Section 45B guidance

The ATO should consider reviewing the usefulness and relevancy of its advice and guidance in respect of schemes to provide certain benefits (section 45B of the ITAA 1936) and update it as required.

Board response

The Board understands work is continuing on reviewing the existing ATO guidance material relating to s45B (PSLA 2005/21 and PSLA 2008/10). To assist with prioritisation, could the Sounding Board community please provide any information/examples of any widespread problems across industry with the current Practice Statements?