A public ruling, when issued, is the published view of the Commissioner of State Revenue (the Commissioner) on the particular topic to which it relates. It therefore replaces and overrides any existing private rulings, memoranda, manuals and advice provided by the Commissioner in respect of the issue(s) it addresses.
Where a change in legislation or case law (the law) affects the content of a public ruling, the change in the law overrides the public ruling—that is, the Commissioner will determine the tax liability or eligibility for a concession, grant or exemption, as the case may be, in accordance with the law.
• the entity’s constitution only allows distributions, payments or transfers of its income or assets to be made to members by way of remuneration or reimbursement for services performed or goods provided
• the entity’s constitution does not contain any provisions allowing distributions, payments or transfers of its income or assets to be made to members.
Commissioner of State Revenue
Date of issue: 21 August 2020
|Public Ruling||Issued||Dates of effect|
|TAA149C.3.1||21 August 2020||19 August 2020||Current|