Valuation reports - Renting out main residence & moving back into it

Private ruling requests can be poorly prepared by a DIY taxpayer as the application usually omits some known information through over simplification and will result in repeated discussions with ATO to interpret the facts. Even actual errors or omission can creep in rendering the ruling defective in cases. When made by a tax professional its time consuming and thus can be expensive. Best confined to issues when the adviser has a concern it is a reasonable arguable position. ie Part IVA, a new issue (Uber etc)

Generally speaking tax advice would be sufficient and when the adviser prepares the return then there is a safe harbour of professional negligence (insured) and also confidence the return reflects same advice. This can protect from penalties for recklessness.

Private rulings are binding on taxpayers and not always something to seek. I have had apparent strong requests issued in a different way to expected. Sometimes policy can see a request refused altogether or issued against the taxpayer for bizarre reasons. ATO can also refuse BPRs if they are a fishing issue rather than true fact. I recall I had one years ago that defied logic and ATO admitted that another law required them to comply. Treasury had to amend Super law 18 mths later to restore logic. (A super contributions issue under pre-2007 rules)