The ATO is currently reviewing, updating and withdrawing a number of outdated public rulings as part of Project Refresh.
Views expressed in rulings won’t change, but they will be updated to ensure they reflect current practice.
The ATO has identified approximately 2,000 rulings to be reviewed, including many that require remedial treatment, and some that should be withdrawn because they are no longer relevant, a spokesperson told Accountants Daily.
Taxation academics have reviewed 1,150 of these rulings, and the ATO has implemented the appropriate changes.
The most recent figures from the ATO show 331 rulings have been refreshed. This includes 311 rulings that are no longer relevant and have been withdrawn, 10 of which have been updated or refreshed by the publication of a new ruling, and 10 which have been noted as not requiring updates.
Currently, there are over 480 rulings which are being reviewed.
“We're doing this to ensure we're providing you with contemporary advice that's easy to access and is delivered with our partners. By modernising our library of public rulings, you can be sure about what [currently] our view is, and what law it's based on,” the ATO said.
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