COMMISSIONER OF TAXATION
The Commissioner of Taxation, Chris Jordan, gives notice of the following Rulings, copies of which can be obtained from Branches of the Australian Taxation Office or at http://law.ato.gov.au.
NOTICES OF RULING | ||
Ruling Number | Subject | Brief Description |
TD 2016/6 | Income tax: is an amount that is a cost in relation to a debt interest covered by paragraph 820‑40(1)(a) of the Income Tax Assessment Act 1997 (ITAA 1997) deductible under section 25‑90 of the ITAA 1997 (or, alternatively, under subsection 230‑15(3) of the ITAA 1997) where that amount is incurred in earning income that meets the requirements of both section 23AH of the Income Tax Assessment Act 1936 and section 768‑5 of the ITAA 1997? | The Ruling concludes that an amount that is not a cost in relation to a debt interest covered by paragraph 820‑40(1)(a) of the ITAA 1997 deductible under section 25‑90 of the ITAA 1997 (or, alternatively, under subsection 230‑15(3) of the ITAA 1997) where that amount is incurred in earning income that meets the requirements of both section 23AH of the Income Tax Assessment Act 1936 and section 768‑5 of the ITAA 1997? The Determination applies to amounts incurred in income years commencing after 30 June 2015. |
CR 2016/21 | Income tax: ‘The Flinders University Academic Staff Early Retirement Scheme 2016’ | The Ruling sets out the Commissioners position for employees of The Flinders University of South Australia who receive a payment under the scheme described in the Ruling. The Ruling applies from 13 April 2016 to 31 October 2016. |
CR 2016/22 | Income tax: ‘The Flinders University Professional Staff Early Retirement Scheme 2016’ | The Ruling sets out the Commissioners position for employees of The Flinders University of South Australia who receive a payment under the scheme described in the Ruling. The Ruling applies from 13 April 2016 to 31 October 2016. |
PR 2016/3 | Income tax: TFS Indian Sandalwood Project 2016 Sophisticated Investor Offer | The Ruling sets out the Commissioners position for Growers who meet the requirements set out in the Ruling and participate in the scheme as described in the Ruling. The Ruling applies prospectively from 13 April 2016, the date this Product Ruling is made. |
NOTICES OF WITHDRAWAL | ||
Ruling Number | Subject | Brief Description |
IT 2659 | Income tax: value of goods taken from stock for private use | IT 2659 is being withdrawn as its date of effect has ceased. The Ruling will continue to be legally binding on the Commissioner for the relevant period to which it relates. The Ruling is withdrawn with effect from 13 April 2016. |
MT 2040 | Fringe benefits tax: living-away-from-home allowance benefits: reasonable food component for expatriate employees | MT 2040 is being withdrawn as its date of effect has ceased. The Ruling will continue to be legally binding on the Commissioner for the relevant period to which it relates. The Ruling is withdrawn with effect from 13 April 2016. |
MT 2043 | Fringe benefits tax: living-away-from-home allowance benefits: reasonable food component for expatriate employees: update of MT 2040 | MT 2043 is being withdrawn as its date of effect has ceased. The Ruling will continue to be legally binding on the Commissioner for the relevant period to which it relates. The Ruling is withdrawn with effect from 13 April 2016. |
MT 2045 | Fringe benefits tax living-away-from-home allowance benefits: reasonable food component for expatriate employees: update of MT 2040 | MT 2045 is being withdrawn as its date of effect has ceased. The Ruling will continue to be legally binding on the Commissioner for the relevant period to which it relates. The Ruling is withdrawn with effect from 13 April 2016. |
MT 2047 | Fringe benefits tax: living-away-from-home allowance benefits: reasonable food component for expatriate employees: update of MT 2045 | MT 2047 is being withdrawn as its date of effect has ceased. The Ruling will continue to be legally binding on the Commissioner for the relevant period to which it relates. The Ruling is withdrawn with effect from 13 April 2016. |
MT 2051 | Fringe benefits tax: living-away-from-home allowance benefits: reasonable food component for expatriate employees: update of MT 2047 | MT 2051 is being withdrawn as its date of effect has ceased. The Ruling will continue to be legally binding on the Commissioner for the relevant period to which it relates. The Ruling is withdrawn with effect from 13 April 2016. |
SCD 2004/5 | Superannuation contributions: for the 2004-2005 financial year, what is the amount represented by A in the first formula contained within subsection 5(1) of the Superannuation Contributions Tax Imposition Act 1997 and subsection 5(1) of the Termination Payments Tax Imposition Act 1997? | SCD 2004/5 is being withdrawn as its date of effect has ceased. The Determination will continue to be legally binding on the Commissioner for the relevant period to which it relates. The Determination is withdrawn with effect from 13 April 2016. |