The Commissioner of Taxation, Chris Jordan, gives notice of the following Rulings, copies of which can be obtained from ato.gov.au/law.
NOTICE OF RULINGS | ||
Ruling number | Subject | Brief description |
TR 2020/4 | Income tax: thin capitalisation – the arm’s length debt test | This Ruling provides guidance on the application of the arm’s length debt test contained in the thin capitalisation rules in Division 820 of the Income Tax Assessment Act 1997. This Ruling applies before and after its issue date. |
CR 2020/42 | Nova Eye Medical Limited – return of capital | This Ruling sets out the tax consequences for shareholders who received a return of capital from Nova Eye Medical Limited on 29 July 2020. This Ruling applies from 1 July 2020 to 30 June 2021. |
CR 2020/43 | Sienna Cancer Diagnostics Ltd – scrip for scrip CGT roll-over relief following merger with BARD1 Life Sciences Ltd | This Ruling sets out the tax consequnces for Australian-resident Sienna Cancer Diagnostics Ltd shareholders who exchanged their shares for BARD1 Life Sciences Ltd shares. This Ruling applies from 1 July 2020 to 30 June 2021. |