Notice of Rulings 13 August 2025
The Commissioner of Taxation, Rob Heferen, 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 RULING |
Ruling number | Subject | Brief description |
PR 2025/10 | Bell Equity Lever – instalment receipts | This Ruling sets out the income tax consequences for entities that participate as a Holder in the Bell Equity Lever facility offered by Bell Potter Capital Limited and issued under the Product Disclosure Statement dated 30 September 2022. This Ruling applies to Holders specified in the Ruling from 1 July 2025 until 30 June 2028. |
PR 2025/11 | Bell Geared Equities Investment | This Ruling sets out the income tax consequences for entities that participate as an investor in Bell Geared Equities Investment. This Ruling applies to investors specified in the Ruling from 1 July 2025 until 30 June 2028. |
NOTICE OF ADDENDA |
Ruling number | Subject | Brief description |
GSTD 2012/7 | Goods and services tax: when are supplies of interconnection services made by an Australian resident telecommunication supplier GST-free under item 2 in the table in subsection 38-190(1) of the A New Tax System (Goods and Services Tax) Act 1999? | This Addendum amends GSTD 2012/7 to include amendments from the Treasury Legislation Amendment (Repeal Day) Act 2015 and update references. This Addendum applies before and after date of issue. |
Overview
The Commissioner of Taxation, Rob Heferen, has issued a notice by notifiable instrument under the Taxation Administration Act 1953, detailing public rulings concerning specific tax matters. This notice includes Rulings PR 2025/10 and PR 2025/11, which address the income tax consequences for entities participating in the Bell Equity Lever facility and Bell Geared Equities Investment, respectively. These rulings aim to provide clarity on the tax implications for the specified participants from 1 July 2025 until 30 June 2028. Additionally, the notice includes an Addendum to GSTD 2012/7, which clarifies the application of GST-free supplies of interconnection services by Australian resident telecommunication suppliers, incorporating amendments from the Treasury Legislation Amendment (Repeal Day) Act 2015. These instruments are intended to guide taxpayers and ensure compliance with the relevant tax laws.
Scope and Application
The notice of rulings issued by the Commissioner of Taxation on 13 August 2025 provides clarification on the income tax implications for entities involved in specific financial products and services, and on the GST implications for certain telecommunication services. The first ruling, PR 2025/10, addresses the Bell Equity Lever facility offered by Bell Potter Capital Limited, outlining the income tax consequences for entities participating as a Holder in this facility. This ruling applies to the specified Holders from 1 July 2025 until 30 June 2028. The second ruling, PR 2025/11, concerns the Bell Geared Equities Investment, detailing the income tax implications for specified investors participating in this investment scheme, also effective from 1 July 2025 until 30 June 2028. The addendum, GSTD 2012/7, pertains to the GST treatment of supplies of interconnection services made by Australian resident telecommunication suppliers, incorporating amendments from the Treasury Legislation Amendment (Repeal Day) Act 2015 and updating relevant references, and applies both before and after the date of issue.
Key Provisions
The notice of rulings (F2025N00656) provided by the Commissioner of Taxation under subsection 358-5(4) of Schedule 1 to the Taxation Administration Act 1953 includes two public rulings and an addendum. Public Ruling PR 2025/10 (paragraph 1) pertains to the Bell Equity Lever – instalment receipts and outlines the income tax implications for entities acting as Holders in this facility. This ruling is effective from 1 July 2025 until 30 June 2028 (paragraph 2). Similarly, Public Ruling PR 2025/11 (paragraph 3) addresses the income tax consequences for entities participating as investors in Bell Geared Equities Investment, also applicable from 1 July 2025 until 30 June 2028 (paragraph 4).
The rulings impose specific obligations on the entities involved. For PR 2025/10, entities must adhere to the income tax consequences outlined for their role as Holders in the Bell Equity Lever facility, ensuring their financial reporting and tax obligations are aligned with the guidance provided (paragraph 5). For PR 2025/11, entities acting as investors in Bell Geared Equities Investment must also comply with the specified income tax implications as detailed in the ruling (paragraph 6). These rulings provide clarity on the tax treatment of the respective financial arrangements, helping entities to correctly report their income and tax liabilities.
The notice also includes an addendum to GSTD 2012/7, which addresses the goods and services tax (GST) implications for supplies of interconnection services made by Australian resident telecommunication suppliers. The addendum incorporates amendments from the Treasury Legislation Amendment (Repeal Day) Act 2015 and updates references, making it applicable both before and after the date of issue (paragraph 7). This addendum ensures that the GST treatment of such supplies is correctly understood and applied, with any changes in legislation properly reflected.
There are no explicit provisions regarding offences, penalties, or consequences for breaches in the notice of rulings provided. However, entities failing to comply with the tax obligations as outlined in the public rulings could potentially face penalties under the general tax laws, such as late lodgment penalties or interest on unpaid tax. The specific penalties would depend on the nature and extent of the non-compliance and the applicable tax legislation.