Notice of Rulings 10 August 2022
The Commissioner of Taxation, Chris Jordan, gives notice by notifiable instrument under subsection 358-5(4) of Schedule 1 to the Taxation Administration Act 1953 of the following public rulings, copies of which can be obtained from ato.gov.au/law
NOTICE OF RULINGS | ||
Ruling number | Subject | Brief description |
CR 2022/72 | Qantas Airways Limited – Executive Recovery Retention Plan | This Ruling sets out the income tax consequences for employees of Qantas Airways Limited and its subsidiaries who participate in the Executive Recovery Retention Plan. This Ruling applies from 1 July 2021 to 30 June 2024. |
CR 2022/73 | Qantas Airways Limited – Employee Recovery Retention Plan | This Ruling sets out the income tax consequences for employees of Qantas Airways Limited and its subsidiaries who participate in the Employee Recovery Retention Plan. This Ruling applies from 1 July 2021 to 30 June 2024. |
NOTICE OF ADDENDA | ||
Ruling number | Subject | Brief description |
TD 2011/15 | Income tax: Division 7A – unpaid present entitlements – factors the Commissioner will take into account in determining the amount of any deemed entitlement arising under section 109XI of the Income Tax Assessment Act 1936 | This Ruling has been amended to reflect the publication of Taxation Determination TD 2022/11 Income tax: Division 7A: when will an unpaid present entitlement or amount held on sub-trust become the provision of 'financial accommodation'? and the associated withdrawals of Taxation Ruling TR 2010/3 Income tax: Division 7A loans: trust entitlements and Law Administration Practice Statement PS LA 2010/4 Division 7A: trust entitlements. This Addendum applies from 13 July 2022. |
TD 2015/20 | Income tax: Division 7A: is a release by a private company of its unpaid present entitlement a ‘payment’ within the meaning of Division 7A of Part III of the Income Tax Assessment Act 1936? | This Ruling has been amended to reflect the publication of Taxation Determination TD 2022/11 Income tax: Division 7A: when will an unpaid present entitlement or amount held on sub-trust become the provision of 'financial accommodation'? and the associated withdrawals of Taxation Ruling TR 2010/3 Income tax: Division 7A loans: trust entitlements and Law Administration Practice Statement PS LA 2010/4 Division 7A: trust entitlements. This Addendum applies from 13 July 2022. |
TR 2015/4 | Income tax: CGT small business concessions: unpaid present entitlements and the maximum net asset value test | This Ruling has been amended to reflect the publication of Taxation Determination TD 2022/11 Income tax: Division 7A: when will an unpaid present entitlement or amount held on sub-trust become the provision of 'financial accommodation'? and the associated withdrawals of Taxation Ruling TR 2010/3 Income tax: Division 7A loans: trust entitlements and Law Administration Practice Statement PS LA 2010/4 Division 7A: trust entitlements. This Addendum applies from 13 July 2022. |
NOTICE OF ERRATUM | ||
Ruling number | Subject | Brief description |
TD 2022/10 | Income tax: what are the reasonable travel and overtime meal allowance expense amounts for the 2022–23 income year? | This Ruling has been amended to correct a calculation. This Erratum applies from 29 June 2022. |