Notice of Rulings 4 August 2021

NOTICE OF RULINGS

Ruling number

Subject

Brief description

CR 2021/53

ICSGlobal Limited – return of share capital and special dividend

This Ruling sets out the tax consequences for ICSGlobal Limited shareholders who received the return of share capital payment and the unfranked special dividend on 20 July 2021.

This Ruling applies from 1 July 2021 to 30 June 2022.

CR 2021/54

RAM Australia Elsie Street Burwood Trust – scrip for scrip roll-over

This Ruling sets out the tax consequences for unit holders in the RAM Australia Elsie Street Burwood Trust in relation to the acquisition of those units by the Trustee of the RAM Australia Diversified Property Fund.

This Ruling applies from 1 July 2021 to 30 June 2022.

CR 2021/55

Sunrise Energy Metals Limited – demerger of Clean TeQ Water Limited

This Ruling sets out the tax consequences of the demerger of Clean TeQ Water Limited by Sunrise Energy Metas Limited which was implemented on 1 July 2021.

This Ruling applies from 1 July 2021 to 30 June 2022.

NOTICE OF ADDENDUM

Ruling number

Subject

Brief description

TR 2004/4

Income tax:  deductions for interest incurred prior to the commencement of, or following the cessation of, relevant income earning activities

This Addendum amends TR 2004/4 to reflect the provisions of section 26-102 (expenses associated with holding vacant land) of the Income Tax Assessment Act 1997.

This Addendum applies on and from 1 July 2019.

NOTICE OF ERRATUM

Ruling number

Subject

Brief description

LCR 2021/2

Non-arm’s length income – expenditure incurred under a non‑arm’s length arrangement

This Erratum corrects LCR 2021/2 to update an incorrect reference to an example within the Ruling.

This Erratum applies on and from 1 July 2018.