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 |
TD 2020/2 | Income tax: thin capitalisation – valuation of debt capital for the purposes of Division 820 | This Determination sets out the ATO view relating to the valuation of a taxpayer’s debt capital in accordance with accounting standards when applying the thin capitalisation rules contained within Division 820 of the Income Tax Assessment Act 1997. This Determination applies both before and after its date of issue. |
TR 2020/1 | Income tax: employees: deductions for work expenses under section 8-1 of the Income Tax Assessment Act 1997 | This Ruling applies established principles for work-related expense deductions to contemporary examples and provides links to more specific work-related expense topics. This Ruling applies both before and after its date of issue. |
CR 2020/20 | Trans Pacific Energy Group Ltd – exchange of shares for New Generation Minerals Limited shares | This Ruling sets out the income tax consequences for shareholders of Trans Pacific Energy Group Ltd who had their shares exchanged for New Generation Minerals Limited shares. This Ruling applies from 1 July 2019 to 30 June 2020. |