Miscellaneous regulatory amendments

2012 regulatory amendments relating to fees and the administration of determinations and binding rulings.

Amendments to the Income Tax (Determinations) Regulations 1987

The current fee-waiver provision has been amended to make it more flexible. The requirement for the Commissioner to publish every determination in the Gazette has been replaced with a requirement to publish in a publication chosen by the Commissioner.

Application date

The amendment will apply from the date of Royal assent, being 2 November 2012.

Amendments to the Tax Administration (Binding Rulings) Regulations 1999

The fees provision has been updated to express fees on a "plus any GST" basis. The fees have been increased to reflect the increased costs of providing rulings.

Application date

The amendment will apply from the date of Royal assent, being 2 November 2012.

Amendments to the Income Tax (Depreciation Determinations) 1993

The fees provision has been updated to express fees on a "plus any GST" basis. The fees have also been increased to reflect the increased costs of providing determinations. The current fee-waiver provision has been amended to make it more flexible. An additional consultation reimbursement fee has been added in relation to determinations of a provisional rate under section 91AAG. This fee is payable in certain circumstances after the Commissioner declines to issue a determination or issues one that is unfavourable to the applicant. These circumstances are first, when the applicant requests that a consultant carry out more work but the further work does not cause the Commissioner to issue a ruling which is favourable to the applicant or secondly, when the applicant requests a conference which a consultant attends, but the conference does not cause the Commissioner to issue a ruling which is favourable to the applicant.

Application date

The new section will apply from the date of Royal assent, being 2 November 2012.