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 |
TD 2016/9 | Income tax: value of goods taken from stock for private use for the 2015 16 income year | The Determination sets out the Commissioner’s position for the value of goods taken from stock for private use for the 2015-16 income year. The Determination applies to the 2015-16 income year. |
CR 2016/39 | Income tax: Service Stream Limited – return of capital and share consolidation | The Ruling sets out the Commissioner’s opinion for ordinary shareholders of Service Stream Limited. The Ruling applies from 1 July 2015 to 30 June 2016. |
CR 2016/40 | Income tax: Thales Australia Maritime Early Retirement Scheme | The Ruling sets out the Commissioner’s opinion for employees of Thales Australia Limited. The Ruling will apply from 15 June 2016 to 31 October 2016. |
NOTICE OF ADDENDA | ||
Ruling Number | Subject | Brief Description |
LCG 2015/4 | Attribution Managed Investment Trusts: ‘clearly defined rights’ | The Addendum amends Law Companion Guideline LCG 2015/4 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
LCG 2015/5 | Attribution Managed Investment Trusts: choice to treat separate classes as separate AMITs | The Addendum amends Law Companion Guideline LCG 2015/5 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
LCG 2015/6 | Attribution Managed Investment Trusts: character flow through for AMITs | The Addendum amends Law Companion Guideline LCG 2015/6 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
LCG 2015/7 | Attribution Managed Investment Trusts: attribution on a ‘fair and reasonable’ basis | The Addendum amends Law Companion Guideline LCG 2015/7 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
LCG 2015/8 | Attribution Managed Investment Trusts: the rules for working out trust components – allocation of deductions | The Addendum amends Law Companion Guideline LCG 2015/8 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
LCG 2015/9 | Attribution Managed Investment Trusts: trustee shortfall taxation – section 276-420 | The Addendum amends Law Companion Guideline LCG 2015/9 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
LCG 2015/10 | Attribution Managed Investment Trusts: administrative penalties for recklessness or intentional disregard of the tax law – section 288-115 | The Addendum amends Law Companion Guideline LCG 2015/10 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
LCG 2015/11 | Attribution Managed Investment Trusts: annual cost base adjustments for units in an AMIT and associated transitional rules | The Addendum amends Law Companion Guideline LCG 2015/11 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
LCG 2015/12 | Attribution Managed Investment Trusts: dividend, interest and royalty withholding | The Addendum amends Law Companion Guideline LCG 2015/12 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
LCG 2015/13 | Attribution Managed Investment Trusts: withholding in respect of ‘fund payments’ | The Addendum amends Law Companion Guideline LCG 2015/13 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
LCG 2015/14 | Managed Investment Trusts: widely-held tests – wholly-owned entity of an Australian government agency | The Addendum amends Law Companion Guideline LCG 2015/14 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
LCG 2015/15 | Managed Investment Trusts: the non-arm’s length income rule in sections 275-605, 275-610 and 275-615 of the Income Tax Assessment Act 1997 | The Addendum amends Law Companion Guideline LCG 2015/15 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
LCG 2016/4 | Attribution Managed Investment Trusts: ‘carry forward trust component deficit’ | The Addendum amends Law Companion Guideline LCG 2016/4 to state it is a public ruling for the purposes of the Taxation Administration Act 1953. The Addendum applies on and from 5 May 2016. |
TR 2001/002 | Fringe benefits tax: the operation of the new fringe benefits tax gross-up formula to apply from 1 April 2000. | The Addendum amends Taxation Ruling TR 2001/2 to reflect the following matters: (a) update section references, tables, terms and rates used in this Ruling to those used in the Fringe Benefits Tax Assessment Act 1986 (FBTAA 1986) (b) 2006, 2014 and 2016 amendments to the fringe benefits tax rate of tax and consequential adjustments to the Type 1 and Type 2 gross-up rates (including the new Table 1 and 2) (c) 2012 amendments in relation to valuation of in-house fringe benefits and in relation to the regulation of charities (d) 2015 amendments to the fringe benefits tax exemption caps and rebate caps (including the new Table 3) (e) 2016 amendments in relation to salary packaged entertainment benefits (including the new Table 3) (f) removal of some examples about car fringe benefits – transitional valuation issues upon the introduction of the A New Tax System (Goods and Services Tax) Act 1999. The Addendum applies on and from 15 June 2016. |