COMMISSIONER OF TAXATION
The Commissioner of Taxation, Chris Jordan, gives notice of the following Rulings, copies of which can be obtained from http://ato.gov.au/law.
NOTICE OF RULING | ||
Ruling Number | Subject | Brief Description |
CR 2017/74 | Income tax: Spicers Ltd – CGT treatment of disposal of PaperlinX Step‑Up Preference Securities in exchange for Spicers ordinary shares | The Ruling sets out the Commissioner’s position on Spicers Ltd – CGT treatment of disposal of PaperlinX Step‑Up Preference Securities in exchange for Spicers ordinary shares. The Ruling applies from 27 June 2017 to 30 June 2017 and continues to apply after 30 June 2017 to all entities within the specified class who entered into the specified scheme during the term of the Ruling. |
NOTICE OF ADDENDA | ||
Ruling Number | Subject | Brief Description |
LCG 2015/3 | Law Companion Guideline: Subdivision 815‑E of the Income Tax Assessment Act 1997: Country‑by‑Country reporting | The Addendum amends LCG 2015/3 to remove paragraphs that are incorrect and, where appropriate, replaced with corrected information. The Addendum applies on and from 1 January 2016. |
TD 2017/19 | Income tax: what are the reasonable travel and overtime meal allowance expense amounts for the 2017‑18 income year? | The Addendum amends Taxation Determination TD 2017/19 to provide separate reasonable travel allowance expense amounts for breakfast, lunch and dinner for employee truck drivers for the 2017‑18 year (following detailed consultation with the transport industry). The Addendum applies on and from 1 July 2017. |
TD 2017/22 | Income tax: where an Australian corporate tax entity is a beneficiary of a trust, can the trust ‘hold’ a direct control interest (within the meaning of section 350 of the Income Tax Assessment Act 1936) in a foreign company for the purpose of Subdivision 768‑A of the Income Tax Assessment Act 1997? | The Addendum amends Taxation Determination TD 2017/22 to clarify its date of effect. The Addendum applies on and from 18 October 2017. |