This Determination, released on Wed 22.1.2014, states that taxpayers can object to a private ruling the Commissioner makes on the way in which s 105-65 of Sch 1 to the TAA applies or would apply, but only if the Commissioner has not made an assessment of the net amount for the tax period in which the taxpayer took into account an amount of incorrect GST. The ATO says the decision in AAT Case [2013] AATA 443, Re Naidoo and FCT, confirms that s 105-65 cannot be taken into account in the assessment of the taxpayer’s net amount for a tax period. The Determination includes 3 examples relating to: pre-1 July 2012 tax period with and without a GST assessment, as well as post-1 July 2012 period.

DATE OF EFFECT: Applies both before and after its date of issue.

[LTN 14, 22/1/14]