Notice of Rulings 6 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 |
CR 2025/53 | 92 Energy Limited – scrip for scrip roll-over for shareholders | This Ruling sets out the income tax consequences for the holders of ordinary shares in 92 Energy Limited who disposed of those shares to ATHA Energy Corp. on 11 April 2024 by way of scheme of arrangement. This Ruling applies to shareholders specififed in the Ruling from 1 July 2023 to 30 June 2024. |
NOTICE OF ADDENDA |
Ruling number | Subject | Brief description |
GSTD 2007/3 | Goods and services tax: if a non-resident entity owns residential rental premises in Australia and an Australian accountant makes a supply to that entity consisting of advice about the premises and tax return preparation services, is that supply wholly or partly GST-free if made on or after 1 April 2005? | This Addendum amends GSTD 2007/3 to include amendments from the Treasury Legislation Amendment (Repeal Day) Act 2015 and update references. This Addendum applies before and after date of issue. |
GSTR 2002/2 | Goods and services tax: GST treatment of financial supplies and related supplies and acquisitions | This Addendum amends GSTR 2002/2 to update cross referencing of rulings and to meet current accessibility guidelines This Addendum applies both before and after the date of issue. |
NOTICE OF ERRATUM |
Ruling number | Subject | Brief description |
CR 2025/48 | Paralympics Australia – medal payments | This Erratum corrects CR 2025/48 by revising legislative references within the document and addressing minor typographical errors. This Erratum applies from 16 July 2025. |
Overview
The Commissioner of Taxation has issued public rulings, addenda, and an erratum pursuant to the Taxation Administration Act 1953. These rulings aim to provide clarity and guidance to taxpayers regarding specific tax matters. For instance, Ruling CR 2025/5392 addresses the income tax implications for shareholders in 92 Energy Limited who participated in a scrip-for-scrip roll-over with ATHA Energy Corp. on 11 April 2024. This ruling applies to specified shareholders from 1 July 2023 to 30 June 2024. Additionally, Addendum GSTD 2007/3 updates the GST treatment of advice and tax return preparation services provided to non-resident entities owning residential rental properties in Australia, incorporating amendments from the Treasury Legislation Amendment (Repeal Day) Act 2015. This Addendum applies both before and after its issuance date. Furthermore, Addendum GSTR 2002/2 revises the GST treatment of financial supplies, aligning with current accessibility guidelines and updating cross-references. Lastly, Erratum CR 2025/48 corrects legislative references and typographical errors in the Paralympics Australia medal payments ruling, effective from 16 July 2025.
Scope and Application
The Notifiable instrument F2025N00639, issued by the Commissioner of Taxation Rob Heferen, encompasses several public rulings that detail specific tax implications for particular transactions and entities. These rulings are applicable to shareholders of 92 Energy Limited involved in a scrip for scrip roll-over with ATHA Energy Corp., specifically those who disposed of their shares between 1 July 2023 and 30 June 2024. Additionally, the instrument addresses the GST implications for non-resident entities owning residential rental premises in Australia, clarifying the GST treatment of supplies made by Australian accountants to these entities. The amendments to GST rulings also incorporate changes from the Treasury Legislation Amendment (Repeal Day) Act 2015 and update cross-references to align with current accessibility standards. The instrument extends its application both before and after the date of issuance, ensuring that the rulings remain relevant and enforceable within the specified timeframes. Furthermore, it corrects an erratum in a previous ruling concerning medal payments to Paralympics Australia, effective from 16 July 2025.
Key Provisions
The main operative sections of the notice of rulings provided by the Commissioner of Taxation detail specific public rulings and amendments that will govern certain tax scenarios. For instance, Ruling CR 2025/5392 (paragraph 1) outlines the income tax consequences for shareholders of 92 Energy Limited who participated in a scrip-for-scrip roll-over with ATHA Energy Corp. This ruling applies to affected shareholders from 1 July 2023 to 30 June 2024. Similarly, the addendum to Ruling GSTD 2007/3 (paragraph 2) addresses the GST implications for supplies made to non-resident entities owning Australian residential rental premises, while the addendum to Ruling GSTR 2002/2 (paragraph 3) revises the GST treatment of financial supplies and related acquisitions. Finally, the erratum to Ruling CR 2025/48 (paragraph 4) corrects legislative references and typographical errors pertaining to medal payments for Paralympic athletes.
These rulings and amendments impose certain obligations and requirements on the parties involved. For example, shareholders of 92 Energy Limited must understand and apply the specific tax treatment outlined in Ruling CR 2025/5392 during the specified period. Non-resident entities owning residential rental premises in Australia and receiving advice or tax return preparation services from Australian accountants must adhere to the GST provisions as updated in GSTD 2007/3. Financial entities and individuals making or receiving financial supplies need to comply with the revised GST treatment in GSTR 2002/2. Additionally, any references to Paralympic medal payments must be updated as per the erratum in CR 2025/48.
Failure to comply with these rulings and amendments can result in various consequences. While the specific penalties are not detailed in the notice, breaches of tax rulings can typically lead to penalties under the Taxation Administration Act 1953. These penalties may include fines, interest on unpaid taxes, or additional taxes owed. In severe cases, criminal charges may be pursued, leading to imprisonment. It is crucial for taxpayers and entities to carefully review and adhere to these rulings to avoid any adverse legal or financial repercussions.