COMMISSIONER OF TAXATION
The Commissioner of Taxation, Michael D’Ascenzo, 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 |
TR 2012/7 | Income tax: capital allowances: treatment of open pit mine site improvements | The Ruling explains the operation of the capital allowance rules in Division 40 of the Income Tax Assessment Act 1997 as they apply to an open pit mine site improvement that comes into being through the conduct of an open pit mining operation. The Ruling applies to years of income commencing both before and after its date of issue. |
NOTICE OF ADDENDA | ||
Ruling Number | Subject | Brief Description |
SMSFR 2008/1 | Self Managed Superannuation Funds: giving financial assistance using the resources of a self managed superannuation fund to a member or relative of a member that is prohibited for the purposes of paragraph 65(1)(b) of the Superannuation Industry (Supervision) Act 1993 | The Addendum amends SMSFR 2008/1 to reflect relevant legislative changes effected since the Ruling’s publication and to correct some minor typographical errors. More specifically, the legislative amendments are: the repeal of subsection 65(6) of the Superannuation Industry (Supervision) Act 1993 (SISA) (effective 1 July 2008); insertion of the definition of ‘relative’ into subsection 10(1) of the SISA (effective 1 July 2008); insertion of section 62A of the SISA (effective 1 July 2011); and insertion of regulation 13.18AA of the Superannuation Industry (Supervision) Regulations 1994 (effective 1 July 2011). The Addendum applies on and from 1 July 2011. |
SMSFR 2008/2 | Self Managed Superannuation Funds: the application of the sole purpose test in section 62 of the Superannuation Industry (Supervision) Act 1993 to the provision of benefits other than retirement, employment termination or death benefits | The Addendum amends SMSFR 2008/2 to reflect relevant legislative changes effected since the Ruling’s publication and to correct some minor typographical errors. More specifically, the legislative amendments are: the repeal of subsection 67(4A) of the Superannuation Industry (Supervision) Act 1993 (SISA) (effective 7 July 2010); insertion of section 62A of the SISA (effective 1 July 2011); insertion of section 67A and section 67B of the SISA (effective 7 July 2010); and insertion of regulation 13.18AA of the Superannuation Industry (Supervision) Regulations 1994 (effective 1 July 2011). The Addendum applies on and from 1 July 2011. |
NOTICE OF ERRATUM | ||
Ruling Number | Subject | Brief Description |
CR 2012/102 | Income tax: off-market share buy-back: IMB Limited | The Erratum corrects CR 2012/102 to insert deleted text into paragraph 83 and corrects the numbering of items under subparagraph 114(b). The Erratum applies on and from 7 November 2012. |