Notice of Rulings 31 January 2024
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 |
TR 2024/1 | Income tax: composite items – identifying the relevant depreciating asset for capital allowances | This Ruling addresses the issue of whether an asset that is made up of a number of parts or components (the composite item) is itself a depreciating asset, or whether one or more of its components are separate depreciating assets. The Ruling applies to years of income commencing both before and after its date of issue. |
CR 2024/4 | Allkem Limited – scrip for scrip roll‑over | This Ruling sets out the income tax consequences for the holders of ordinary shares in Allkem Limited who disposed of those shares to Arcadium Lithium plc on 4 January 2024. The Ruling applies from 1 July 2023 to 30 June 2024. |
CR 2024/5 | Shriro Holdings Limited – return of capital | This Ruling sets out the income tax consequences for shareholders of Shriro Holdings Limited who received a return of share capital on 4 January 2024. The Ruling applies from 1 July 2023 to 30 June 2024. |
CR 2024/6 | Healthia Limited – scheme of arrangement | This Ruling sets out the income tax consequences for Healthia Limited shareholders who exchanged their Healthia shares on 11 December 2023 for Class B shares in Harold Topco Ltd, by way of a scheme of arrangement. The Ruling applies from 1 July 2023 to 30 June 2024. |