Notice of Rulings and Withdrawal of Rulings 22 October 2025

Overview

The Notice of Rulings and Withdrawal of Rulings issued on 22 October 2025 by the Commissioner of Taxation, Rob Heferen, under subsections 358-5(4) and 358-20(1) of Schedule 1 to the Taxation Administration Act 1953, provides clarity on specific tax rulings and the withdrawal of outdated rulings. This notifiable instrument aims to ensure that taxpayers and their advisers are aware of the current tax obligations and can rely on the most recent guidance provided by the Commissioner. By updating and withdrawing rulings as necessary, the Australian Taxation Office seeks to maintain accurate and relevant tax information for the public, facilitating compliance with tax laws. The rulings and withdrawal detailed in this notice are available for review on the ATO’s website, ato.gov.au/law.

Scope and Application

The notice of rulings and withdrawal of rulings issued by the Commissioner of Taxation under the Taxation Administration Act 1953 applies to specified taxpayers and entities, including those engaged in particular industries, and pertains to income tax matters for specific financial years. Ruling TD 2025/7 pertains to the value of goods taken from stock for private use by taxpayers in named industries for the 2025–26 income year, providing an updated estimate of acceptable values. Ruling CR 2025/75 addresses the income tax consequences for specified shareholders of AVJennings Limited related to a special dividend and share disposal under a scheme of arrangement. Similarly, Ruling CR 2025/76 outlines the tax implications for specified employees of Museums Board of Victoria participating in the Museums Victoria Early Retirement Scheme 2025-2026. Conversely, Ruling TD 2020/1 is withdrawn as its effective period has expired, although it remains legally binding for its relevant period. This notifiable instrument operates under the Commonwealth jurisdiction, and its reach is limited to the specified dates and entities outlined in each ruling.

Key Provisions

The main operative sections of the notifiable instrument issued by the Commissioner of Taxation include the notice of certain public rulings and the withdrawal of a specific ruling. Section 358-5(4) of Schedule 1 to the Taxation Administration Act 1953 pertains to the announcement of new public rulings, while section 358-20(1) concerns the withdrawal of existing rulings. The public rulings that are announced include TD 2025/7, which provides updated estimates of the value of goods taken from stock for private use in named industries for the 2025–26 income year, CR 2025/75, which deals with the income tax consequences of a special dividend paid by AVJennings Limited and the disposal of its shares under a scheme of arrangement, and CR 2025/76, which outlines the tax consequences of an early retirement scheme implemented by the Museums Board of Victoria. The withdrawn ruling, TD 2020/1, related to the value of goods taken from stock for private use for the 2019–20 income year, and it is being withdrawn as its period of effect has passed. The obligations and requirements imposed by the Act on the parties or entities it governs are primarily concerned with the provision of clear and updated guidance on specific tax matters. The new rulings announced in the notifiable instrument provide taxpayers with information on the Commissioner's acceptance of certain estimates of the value of goods taken from stock for private use, the tax consequences of a special dividend and the disposal of shares under a scheme of arrangement, and the tax implications of an early retirement scheme. These rulings apply to specified taxpayers and employees for the relevant income years. The withdrawal of TD 2020/1 signifies that it is no longer in effect, although it will continue to be legally binding on the Commissioner for the period to which it relates. The notifiable instrument does not explicitly state any offences, penalties, or civil/criminal consequences for breach. However, non-compliance with the rulings announced could potentially lead to tax assessments and penalties imposed by the Commissioner of Taxation. It is important for taxpayers and their representatives to ensure that they adhere to the guidelines and requirements set out in the rulings to avoid any potential adverse consequences. The maximum penalties for tax-related offences are determined by the specific provisions of the relevant taxation legislation and can vary depending on the nature and severity of the offence.