Date posted: 19/12/2019 2 min read

Submission on Income Tax PUB00326: When is development or division work minor?

CA ANZ recently provided feedback on draft interpretations statement PUB00326.

Chartered Accountants Australia and New Zealand recently provided feedback on this draft Interpretation Statement which intends to replace the 2005 Interpretation Guideline IG0010, "Work of a minor nature". The statement has been updated to reflect changes to wording and section references in the legislation. The conclusion in the statement are broadly unchanged from the earlier IG0010.

CA ANZ supports the publication of this very comprehensive statement. It will be a useful resource for many practitioners. The purpose of the statement is to provide guidance to help readers establish whether development or division work on land is minor.

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