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Whether the Commissioner will grant an extension of time to register a TRBL.

The Commissioner will allow an extension of time to register a TRBL.

Taxation Determination TD 97/7 sets out in what circumstances the Commissioner would register a TRBL under regulation 53E of the Income Tax Regulations after the general extension date of 4 April 1997.

The taxpayer instructed his accountant to lodge a TRBL form in 1997. The form was not lodged in accordance with those instructions.

The taxpayer changed accountants. His new accountants requested an extension of time to register a TRBL because of the difficulties the taxpayer had had with his previous accountant.

Regulation 53E of the ITR requires that a TRBL should be registered with the Commissioner: • not later than 31 December 1996; or • if in a particular case the Commissioner allows registration at a later date - by that date.

On 12 December 1996, the Commissioner allowed a general extension for eligible persons to register TRBLs by 4 April 1997. TD 97/7 provided guidelines for allowing the registration of a TRBL after 4 April 1997.

This determination was withdrawn on 9 May 2001 following the Administrative Appeals Tribunal (AAT) decision in Case AT 1999/49, [2001] AATA 220, to allow an extension of time to register a transitional RBL after the general extension date of 4 April 1997.

The AAT's decision of regulation 53E indicated that the time limit was only set for normal and orderly administrative purposes and the discretion to grant an extension is basically unfettered.

In view of the above, the Commissioner will allow an extension of time of two months to register a transitional RBL.