Date posted: 02/05/2022

CA ANZ submission on ATO draft guidance on s100A

CA ANZ has lodged a lengthy submission on the ATO’s draft guidance on section 100A of the Income Tax Assessment Act 1936 dealing with reimbursement agreements. In the submission, CA ANZ has provided the key themes of the member feedback received on TR 2022/D1, PCG 2022/D1 and TA 2022/1 and detailed comments on the draft guidance. CA ANZ is concerned with retrospectivity of the draft guidance and the attempt to set out the parameters of the exception to s100A - what is an ordinary family or commercial dealing.

CA ANZ hopes that the ATO will collaborate with CA ANZ, other professional associations and
business representative organisations to:

Defuse widely held concerns that the ATO has belatedly weaponised s100A retrospectively,

  • Achieve much greater certainty of outcomes in the draft guidance,
  • Rapidly provide practical, safe-harbour guidance to tax professionals on finalisation of 2021 income tax returns, trust resolutions for the year ended 30 June 2022, and preparation of 2022 income tax returns.
  • Establish a process for publishing more “green zone” examples in the future as trusts and their advisers obtain responses to private rulings, or as the ATO categorises more scenarios as “green”.

Search related topics