COMMISSIONER OF TAXATION
The Commissioner of Taxation, Chris Jordan, gives notice of the following Rulings, copies of which can be obtained from http:// ato.gov.au/law.
NOTICE OF RULINGS | ||
Ruling Number | Subject | Brief Description |
TD 2016/16 | Income tax: will the ordinary or statutory income of a self-managed superannuation fund be non-arm’s length income under subsection 295 550(1) of the Income Tax Assessment Act 1997 (ITAA 1997) when the parties to a scheme have entered into a limited recourse borrowing arrangement on terms which are not at arm’s length? | The Determination applies when parties to a scheme, that include a trustee of a self managed superannuation fund, have entered into a limited recourse borrowing arrangement on terms which are not at arm’s length. The Determination applies to income years commencing both before and after 28 September 2016. |
CR 2016/68 | Income tax: Australia and New Zealand Banking Group Limited – ANZ Capital Notes 4 | The Ruling sets out the Commissioner’s position for investors who are allotted non‑cumulative, convertible, transferable, redeemable, subordinated, perpetual, unsecured notes issued by Australia and New Zealand Banking Group Limited (ANZ) acting through its New Zealand branch, called ANZ Capital Notes 4. The Ruling applies from 1 July 2016 to 30 June 2027. |
CR 2016/69 | Income tax: scheme of arrangement – merger of Royal Automobile Club of Queensland Limited and QT Mutual Bank Limited | The Ruling sets out the Commissioner’s position for members of QT Mutual Bank Limited. The Ruling applies from 1 July 2016 to 30 June 2017. |
PR 2016/8 | Income tax: tax consequences of investing in Wellington Management Funds (Luxembourg) | The Ruling sets out the Commissioner’s position on Units of Wellington Management Funds (Luxembourg) offered under a Prospectus issued by Wellington Luxembourg S.à r.l (the Management Company). The Ruling applies prospectively from 1 July 2016. |