Notice of Rulings 17 January 2024

Overview

The Commissioner of Taxation, Chris Jordan, has introduced a notifiable instrument on 17 January 2024 under the Taxation Administration Act 1953, specifying an addendum to the existing public ruling PR 2023/9. The purpose of this addendum is to amend the title of the Product Ruling related to KPMG's FTC Automator platform for fuel tax credits. This change aims to ensure clarity and accuracy in the identification of the ruling, facilitating better understanding and compliance among taxpayers. The amendment applies retroactively from 1 January 2023, ensuring that the updated title reflects the ongoing relevance and application of the ruling. The Commissioner’s notice can be accessed through the Australian Taxation Office website, at ato.gov.au/law.

Scope and Application

The F2024N00052 notifiable instrument, issued by the Commissioner of Taxation, pertains to a public ruling under subsection 358-5(4) of Schedule 1 to the Taxation Administration Act 1953. This ruling specifically addresses an addendum to the existing Product Ruling PR 2023/9, which concerns the KPMG – FTC Automator platform and fuel tax credits. The scope of this ruling is directed towards entities and individuals who use or are involved with the KPMG – FTC Automator platform for managing fuel tax credits. The ruling is applicable from 1 January 2023, and it is pertinent to entities and persons engaged in the administration of fuel tax credits within Australia, thereby extending its reach across all states and territories under the Commonwealth jurisdiction. There are no exclusions, exemptions, or specific thresholds mentioned within the text of this notifiable instrument, and the application of the ruling may be further extended or restricted through any subordinate instruments that may be promulgated subsequently.

Key Provisions

The key provisions of the notifiable instrument F2024N00052 concern an Addendum to the public ruling PR 2023/9, which was originally issued to provide clarification on the application of fuel tax credits in relation to the KPMG – FTC Automator platform. The main operative section of this notifiable instrument is subsection 358-5(4) of Schedule 1 to the Taxation Administration Act 1953. This section allows the Commissioner of Taxation to issue public rulings and amendments to clarify the application of tax laws. Specifically, the Addendum updates the title of Product Ruling PR 2023/9 to accurately reflect the subject matter, while the content of the ruling remains unchanged. This change is effective from 1 January 2023. The obligations imposed by this notifiable instrument are primarily informational and administrative. It mandates that the Commissioner of Taxation ensures that all public rulings, including any amendments, are readily accessible to the public. In this case, the updated ruling should be available on the ATO website, ato.gov.au/law, so that taxpayers can access the most current information regarding fuel tax credits and the KPMG – FTC Automator platform. This ensures transparency and assists taxpayers in understanding and complying with their tax obligations. In terms of breaches and consequences, the notifiable instrument itself does not detail specific offences or penalties. However, the underlying public ruling PR 2023/9, which the Addendum modifies, would still be subject to the general provisions of the Taxation Administration Act 1953. Failure to comply with the tax laws as clarified by the public ruling could result in penalties. For instance, if a taxpayer does not correctly apply the fuel tax credits as outlined in the ruling, they could be liable for additional taxes, interest, and penalties under the general tax legislation. The maximum penalties for non-compliance can vary but may include fines and, in severe cases, imprisonment for wilful default.