COMMISSIONER OF TAXATION
The Commissioner of Taxation, Chris Jordan, gives notice of the following Rulings, copies of which can be obtained from Branches of the Australian Taxation Office or at http://law.ato.gov.au.
NOTICE OF RULINGS |
Ruling Number | Subject | Brief Description |
CR 2014/70 | Income tax: Westfield Group Plans - Westfield Corporation employees | The Ruling sets out the Commissioner’s position for individuals who: - are residents of Australia as defined in subsection 6(1) of the Income Tax Assessment Act 1936, including by virtue of the operation of any Australian Tax Treaties between Australia and any other country on 30 June 2014 (Implementation Date)
- are not temporary residents as defined in subsection 995-1(1) of the Income Tax Assessment Act 1997 (ITAA 1997) on the Implementation Date
- hold one or more of Performance Rights, Indeterminate Performance Rights, an Award under the Executive Deferred Award Plan (EDAP) or an Award under the Partnership Incentive Plans (PIPs) (the EDAP and PIPs together are the Cash Awards) on the Implementation Date (collectively, WDC Awards)
- were employees of Westfield Limited (WL)(now Scentre Limited), a wholly owned subsidiary of Westfield Holdings Limited (WHL)(now Scentre Group Limited), at the time the WDC Awards were granted
- are employees of Westfield Corporation Limited (WCL) or a 100% subsidiary of WCL following the implementation of the Proposal
- have not qualified for a payout in relation to their Cash Awards, and
- are not subject to the taxation of financial arrangements rules in Division 230 of the ITAA 1997. (Note: Division 230 will generally not apply to individuals unless they made an election for it to apply to them.)
The Ruling applies from 1 July 2013 to 30 June 2020. |
CR 2014/71 | Income tax: Westfield Group Plans – Scentre Group employees | The Ruling sets out the Commissioner’s position for individuals who: - are residents of Australia as defined in subsection 6(1) of the Income Tax Assessment Act 1936, including by virtue of the operation of any Australian Tax Treaties between Australia and any other country on 30 June 2014 (Implementation Date)
- are not temporary residents as defined in subsection 995-1(1) of the Income Tax Assessment Act 1997 (ITAA 1997) on the Implementation Date
- hold one or more of Performance Rights, Indeterminate Performance Rights, an Award under the Executive Deferred Award Plan (EDAP) or an Award under the Partnership Incentive Plans (PIPs) (the EDAP and PIPs together are the Cash Awards) on the Implementation Date (collectively, WDC Awards)
- were employees of Westfield Limited (WL)(now Scentre Limited), a wholly owned subsidiary of Westfield Holdings Limited (WHL)(now Scentre Group Limited), at the time the WDC Awards were granted
- continue to be employees of WL following implementation of the Proposal
- have not qualified for a payout in relation to their Cash Awards, and
- are not subject to the taxation of financial arrangements rules in Division 230 of the ITAA 1997. (Note: Division 230 will generally not apply to individuals unless they made an election for it to apply to them.)
This Ruling applies from 1 July 2013 to 30 June 2020. |
NOTICE OF ADDENDA |
Ruling Number | Subject | Brief Description |
GSTR 2012/2 | Goods and services tax: financial assistance payments | The Addendum amends Goods and Services Tax Ruling GSTR 20012/2 to take account of the Full Federal Court decision in AP Group Limited v. Commissioner of Taxation [2013] FCAFC 105, which considered the GST treatment of payments made by motor vehicle manufacturers or distributors to the taxpayer (motor vehicle dealerships). The Addendum also amends GSTR 2012/2 to update the case references section. This Addendum amends GSTR 2012/2 to explain the Commissioner's view of the law as it applies both before and after the date of issue. |
PR 2006/57 | Income tax: 2006 Timbercorp Avocado Project - Early Growers | The Addendum amends Product Ruling PR 2006/57 withdrawal to provide information about the consequence for Growers following the appointment of a replacement Responsible Entity for the 2006 Timbercorp Avocado Project – Early Growers. The Addendum applies on and from 12 October 2009. |
PR 2006/58 | Income tax: 2006 Timbercorp Avocado Project – Post 30 June Growers | The Addendum amends Product Ruling PR 2006/58 withdrawal to provide information about the consequence for Growers following the appointment of a replacement Responsible Entity for the 2006 Timbercorp Avocado Project – Post 30 June Growers. The Addendum applies on and from 12 October 2009. |