Notice of Rulings and Withdrawal of Rulings 8 October 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, and under subsection 358-20(1) of Schedule 1 to the Taxation Administration Act 1953 of the withdrawal of the following public ruling, copies of which can be obtained from ato.gov.au/law
NOTICE OF RULINGS |
Ruling number | Subject | Brief description |
CR 2025/70 | Wellard Limited – return of capital | This Ruling sets out the income tax consequences for shareholders of Wellard Limited who received a return of capital payment per ordinary Wellard share on 28 August 2025. This Ruling applies to shareholders specified in the Ruling from 1 July 2025 to 30 June 2026. |
CR 2025/71 | Washington H. Soul Pattinson and Company Limited – scrip for scrip roll-over | This Ruling sets out the income tax consequences for the holders of ordinary shares in Washington H. Soul Pattinson and Company Limited in relation to the acquisition of the majority of the ordinary shares in that company by Second Services Company Pty Ltd which was implemented on 23 September 2025. This Ruling applies to shareholders specified in the Ruling from 1 July 2025 to 30 June 2026. |
CR 2025/72 | Brickworks Ltd – scrip for scrip roll-over | This Ruling sets out the income tax consequences for the holders of ordinary shares in Brickworks Ltd in relation to the acquisition of those ordinary shares by Second Services Company Pty Ltd which was implemented on 23 September 2025. This Ruling applies to shareholders specified in the Ruling from 1 July 2025 to 30 June 2026. |
CR 2025/73 | Washington H. Soul Pattinson and Company Limited – combination with Brickworks Ltd – replacement of employee share scheme awards | This Ruling sets out the income tax consequences for employees of Washington H. Soul Pattinson and Company Limited (or its subsidiaries) of exchanging shares or rights in that company that they received, pursuant to the Washington H. Soul Pattinson and Company Limited’s Limited Rights Plan for shares or rights in First Services Company Ltd as part of the combination of WHSP Holdings Ltd and Brickworks Ltd on 23 September 2025. This Ruling applies to employees specified in the Ruling from 1 July 2025 to 30 June 2026. |
CR 2025/74 | Brickworks Ltd – employee share scheme – disposal of shares under a scheme of arrangement | This Ruling sets out the income tax consequences for employees of Brickworks Ltd and its wholly owned subsidiaries who participated in the Brickworks Limited Exempt Employee Share Plan to acquire ordinary shares in Brickworks Ltd which were subsequently disposed of on 23 September 2025 pursuant to a scheme of arrangement. This Ruling applies to employees specified in the Ruling from 1 July 2022 to 30 June 2026. |
NOTICE OF ERRATUM |
Ruling number | Subject | Brief description |
TR 2025/2 | Income tax: aspects of the third party debt test in Subdivision 820-EAB of the Income Tax Assessment Act 1997 | This Erratum corrects a minor typographical error in TR 2025/2. This Erratum applies from 1 October 2025. |
CR2025/67 | Platinum Asia Investments Limited – disposal of shares and special dividend | This Erratum corrects a minor typographical error in CR 2025/67. This Erratum applies from 1 October 2025. |
NOTICE OF WITHDRAWAL |
Ruling number | Subject | Brief description |
TD 93/60 | Income tax: employee share acquisition schemes: can a resident taxpayer participating in a foreign employee share acquisition scheme take advantage of a reduction in discount under subsection 26AAC(4F) of the Income Tax Assessment Act 1936? | TD 93/60 is withdrawn with effect from 9 October 2025 as it has no ongoing relevance. |
Overview
The Notice of Rulings and Withdrawal of Rulings 8 October 2025 is a notifiable instrument issued 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. It provides clarifications and corrections to public rulings and withdraws certain outdated or irrelevant rulings, ensuring that taxpayers have access to accurate and relevant information. The rulings cover a variety of topics, including the income tax consequences of specific corporate actions such as share acquisitions, returns of capital, and employee share schemes, as well as corrections to previous rulings. The objective is to maintain the currency and accuracy of the information provided to taxpayers, ensuring compliance with the tax laws.
Scope and Application
The Notifiable Instrument F2025N00807 issued by the Commissioner of Taxation, Rob Heferen, under the Taxation Administration Act 1953, provides notice of several public rulings and the withdrawal of a particular public ruling. These rulings and the withdrawal relate to specific income tax consequences and apply to particular entities and individuals involved in transactions concerning companies such as Wellard Limited, Washington H. Soul Pattinson and Company Limited, and Brickworks Ltd. These rulings cover the period from 1 July 2025 to 30 June 2026 for specified shareholders and employees involved in events such as returns of capital, scrip-for-scrip roll-overs, and employee share scheme arrangements. Additionally, the Notifiable Instrument addresses the correction of minor typographical errors in previously issued rulings, effective from 1 October 2025. Finally, the document announces the withdrawal of a ruling from 9 October 2025 due to its lack of ongoing relevance.
Key Provisions
The Commissioner of Taxation, Rob Heferen, has issued a notifiable instrument under the Taxation Administration Act 1953, notifying the public of certain rulings and the withdrawal of others. The operative sections of this notifiable instrument include the issuance of public rulings (subsection 358-5(4)) and the withdrawal of public rulings (subsection 358-20(1)). The public rulings in question cover specific income tax consequences for shareholders and employees of certain companies, such as Wellard Limited, Washington H. Soul Pattinson and Company Limited, and Brickworks Ltd, as well as an erratum for a previous ruling on the third party debt test. These rulings are designed to provide clarity on tax implications for the specified periods and entities.
The obligations and requirements imposed by this notifiable instrument primarily concern the accuracy and relevance of tax rulings. The Commissioner of Taxation must ensure that the public rulings accurately reflect the tax consequences of specific transactions or situations, and that they are applicable to the correct entities and time periods. In the case of the erratum, the Commissioner must correct any typographical errors that may affect the interpretation of the tax law. Additionally, the withdrawal of a ruling, such as TD 93/60, indicates that it is no longer relevant and should not be relied upon for tax purposes.
There are no explicit offences, penalties, or civil or criminal consequences outlined in this notifiable instrument. However, reliance on withdrawn or incorrect tax rulings can lead to significant tax liabilities, including interest and penalties if the Australian Taxation Office (ATO) determines that a taxpayer has incorrectly applied the ruling. It is important for taxpayers and their advisers to stay informed about the status of public rulings and to ensure that they are applying the correct and most current guidance when preparing tax returns or making tax-related decisions.
In summary, the notifiable instrument issued by the Commissioner of Taxation notifies the public of specific tax rulings and the withdrawal of others, ensuring that taxpayers and their advisers have accurate and relevant guidance for tax planning and compliance purposes. It is crucial for all stakeholders to keep abreast of these changes to avoid potential tax liabilities and to ensure compliance with current tax laws and regulations.