Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Hansard source

asked the Minister representing the Treasurer, upon notice, on 1 November 2012 –

With reference to the Australian Taxation Office (ATO) Draft Taxation Ruling TR 2011/D5, 'Income Tax: School or College Building Funds' and Taxation Ruling TR 96/8 'Income Tax: School and College Building Funds':

(1) Given that Draft Taxation Ruling TR 2011/D5 states that the 50 per cent rule is no longer considered correct, what is the reason for departing from the 50 per cent use test; for example, has there been an important court judgment on the subject.

(2) Has the ATO simply changed its mind about the issue.

(3) What is the ATO's intended service standard for the finalisation of public rulings.

(4) Given that Draft Taxation Ruling TR 2011/D5 was notified on 6 April 2010, and was issued on 5 December 2011, why has the ruling not yet been finalised.

(5) Is it sound administrative practice to withdraw a ruling such as Taxation Ruling TR 96/8 without first finalising a replacement public ruling, such as Draft Taxation Ruling TR 2011/D5.