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 |
GTR 2013/1
| Goods and services tax: tax invoices
| The Ruling sets out the information requirements for a tax invoice under subsection 29‑70(1) of the A New Tax System (Goods and Services Tax) Act 1999. It also explains when a document is in the approved form for a tax invoice. The Ruling applies on and from 1 July 2010. |
TD 2013/5 | Fringe benefits tax: for the purposes of section 28 of the Fringe Benefits Tax Assessment Act 1986 what are the indexation factors for valuing non‑remote housing for the fringe benefits tax year commencing on 1 April 2013? | The Determination sets out the indexation factors for the purpose of valuing non‑remote housing for the fringe benefits tax (FBT) year commencing 1 April 2013. The Determination applies to the FBT year commencing 1 April 2013. |
TD 2013/6 | Fringe benefits tax: for the purposes of section 135C of the Fringe Benefits Tax Assessment Act 1986, what is the exemption threshold for the fringe benefits tax year commencing on 1 April 2013? | The Determination sets out the exemption threshold for the fringe benefits tax (FBT) year commencing 1 April 2013, which is $7,779. This replaces the amount of $7,642 that applied in the previous year commencing 1 April 2012. The Determination applies to the FBT year commencing 1 April 2013. |
TD 2013/7 | Fringe benefits tax: what are the rates to be applied on a cents per kilometre basis for calculating the taxable value of a fringe benefit arising from the private use of a motor vehicle other than a car for the fringe benefits tax year commencing on 1 April 2013? | The Determination sets out the rates to be applied where the cents per kilometre basis is used for the fringe benefits tax (FBT) year commencing on 1 April 2013. The Determination applies to the FBT year commencing 1 April 2013.
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TD 2013/8 | Fringe benefits tax: what is the benchmark interest rate to be used for the fringe benefits tax year commencing on 1 April 2013? | The Determination sets out the benchmark interest rate for the fringe benefits tax (FBT) year commencing on 1 April 2013. The Determination applies to the FBT year commencing on 1 April 2013. |
CR 2013/21 | Income tax: return of capital: Residential – Plus Growth Company Ltd
| The Ruling outlines the tax consequences for Australian resident ordinary shareholders of Residential – Plus Growth Company Ltd. The Ruling applies from 1 July 2011 to 30 June 2015. |
CR 2013/22 | Income tax: Nuplex Industries (Aust) Pty Ltd – early retirement scheme
| The Ruling outlines the tax consequences for employees of Nuplex Industries (Aust) Pty Ltd. The Ruling applies for a period of 12 months from 27 March 2013. |
CR 2013/23 | Income tax: demerger of Talon Petroleum Limited by Texon Petroleum Limited
| The Ruling outlines the tax consequences for ordinary shareholders of Texon Petroleum Limited. The Ruling applies from 1 July 2012 to 30 June 2013. |
NOTICE OF ADDENDA | ||
Ruling Number | Subject | Brief Description |
TR 2009/6 | Income tax: entitlement to foreign income tax offsets under section 770-10 of the Income Tax Assessment Act 1997 where income is derived from investing in fiscally transparent foreign entities | The Addendum amends TR 2009/6 to remove references to Part XI of the Income Tax Assessment Act 1936 which was repealed by the Tax Laws Amendment (Foreign Source Income Deferral) Act (No. 1) 2010 with effect from the 2010/2011 income year. The Addendum applies on and from 27 March 2013. |
GSTR 2000/29 | Goods and services tax: attributing GST payable, input tax credits and adjustments and particular attribution rules made under section 29‑25
| The Addendum amends GSTR 2000/29 to reflect amendments to the A New Tax System (Goods and Services Tax) Act 1999. In particular, the Addendum updates GSTR 2000/29 for amendments made to Subdivision 29‑C. The amendments to Subdivision 29‑C are in relation to tax invoices and apply to net amounts for tax periods starting on or after 1 July 2010. The Addendum also makes further minor amendments to GSTR 2000/29 to correct other minor non‑technical errors and to update the references section of GSTR 2000/29. The Addendum explains the Commissioner’s view of the law as it applies to tax invoices on or after 1 July 2010. |
GSTR 2000/37 | Goods and services tax: agency relationships and the application of the law
| The Addendum amends GSTR 2000/37 to reflect amendments to the A New Tax System (Goods and Services Tax) Act 1999. In particular, the Addendum updates GSTR 2000/37 for amendments made to Subdivision 29‑C. The amendments to Subdivision 29‑C are in relation to tax invoices and apply to net amounts for tax periods starting on or after 1Jul y2010 . The Addendum also makes further minor amendments to GSTR 2000/37 to correct other minor non‑technical errors and to update the references section of GSTR 2000/37. The Addendum explains the Commissioner’s view of the law as it applies from 1 July 2010. |
GSTR 2002/5 | Goods and services tax: when is a ‘supply of a going concern’ GST‑free?
| The Addendum amends GSTR 2002/5 to reflect the Federal Court’s decision in Aurora Developments Pty Ltd v. Commissioner of Taxation (2011) 192 FCR 519; [2011] FCA 232 where the supply of a residential development site was held not to be a GST‑free supply of a going concern. The Addendum also amends the Ruling to take account of amendments made to the Acts Interpretations Act 1901 by the Acts Interpretation Amendment Act 2011. Relevantly, there is now a general ‘contrary intention’ provision that qualifies all relevant provisions of the Acts Interpretation Act and the definition of ‘writing’ has moved to a new ‘definitions’ section of the Act. The Addendum applies on and from its date of issue. |
GSTR 2003/13 |
| The Addendum amends GSTR 2003/13 to reflect amendments to the A New Tax System (Goods and Services Tax) Act 1999. In particular, the Addendum updates GSTR 2003/13 for amendments made to Subdivision 29‑C. The amendments to Subdivision 29‑C are in relation to tax invoices and apply to net amounts for tax periods starting on or after 1 July 2010. The Addendum also makes further minor amendments to GSTR 2003/13 to correct other minor non‑technical errors and to update the references section of GSTR 2003/13. The Addendum explains the Commissioner’s view of the law as it applies from 1 July 2010. |
GSTR 2004/6 | Goods and services tax: tax law partnerships and co-owners of property
| The Addendum amends GSTR 2004/6 to reflect amendments to the A New Tax System (Goods and Services Tax) Act 1999. In particular, the Addendum updates GSTR 2004/6 for amendments made to Subdivision 29-C. The amendments to Subdivision 29-C are in relation to tax invoices and apply to net amounts for tax periods starting on or after 1 July 2010. The Addendum also makes further minor amendments to GSTR 2004/6 to correct other minor non-technical errors and to update the references section of GSTR 2004/6. The Addendum explains the Commissioner’s view of the law as it applies from 1 July 2010. |
GSTR 2005/1 | Goods and services tax: the GST implications of the purchase of fuel using a fuel card | The Addendum amends GSTR 2005/1 to reflect amendments to the A New Tax System (Goods and Services Tax) Act 1999. In particular, the Addendum updates GSTR 2005/1 for amendments made to Subdivision 29‑C in relation to tax invoices and applies to tax periods starting on or after 1 July 2010. The Addendum also makes further minor amendments to GSTR 2005/1 and updates the references section of GSTR 2005/1. The Addendum explains the Commissioner’s view of the law as it applies from 1 July 2010. |
GSTR 2005/5 | Goods and services tax: arrangements of the kind described in Taxpayer Alert TA 2004/8: use of the Going Concern provisions and the Margin Scheme to avoid or reduce the Goods and Services Tax on the sale of new residential premises | The Addendum amends GSTR 2005/5 to reference as appropriate the Federal Court’s decision in Aurora Developments Pty Ltd v. Federal Commissioner of Taxation (2011) 192 FCR 519; [2011] FCA 232, where the supply of a residential development site was held not to be a GST‑free supply of a going concern. The Addendum applies on and from 27 March 2013. |
GSTR 2008/3 | Goods and services tax: dealings in real property by bare trusts
| The Addendum amends GSTR 2008/3 to reflect amendments to the A New Tax System (Goods and Services Tax) Act 1999. In particular, the Addendum updates GSTR 2008/3 for amendments made to Subdivision 29‑C. The amendments to Subdivision 29‑C are in relation to tax invoices and apply to net amounts for tax periods starting on or after 1 July 2010. The Addendum also makes further minor amendments to GSTR 2008/3 to correct other minor non‑technical errors and to update the references section of GSTR 2008/3. The Addendum explains the Commissioner’s view of the law as it applies from 1 July 2010. |
MT 2009/1 | Miscellaneous taxes: notification requirements for an entity under section 105‑55 of Schedule 1 to the Taxation Administration Act 1953
| The Addendum amends MT 2009/1 to reflect the recent decisions of the Federal Court and the Administrative Appeals Tribunal in Central Equity Limited v. Commissioner of Taxation [2011] FCA 908, MTAA Superannuation Fund (R G Casey Building) Property Pty Ltd v. Commissioner of Taxation [2011] AATA 769 and National Jet Systems Pty Ltd v. Commissioner of Taxation [2011] AATA 766 in relation to notification requirements under section 105‑55 of Schedule 1 to the Taxation Administration Act 1953. The Addendum also updates the Date of Effect and Legislative Context sections to reflect amendments made by the Tax Laws Amendment (2010 GST Administration Measures No. 2) Act 2010 which came into effect on 1 July 2010, and the Indirect Tax Laws Amendment (Assessment) Act 2012, which came into effect on 1 July 2012. The Addendum applies on and from the date of issue. |
NOTICE OF WITHDRAWAL | ||
Ruling Number | Subject | Brief Description |
TD 13 | Capital gains: is there a change in ownership when property held in joint tenancy is converted into a tenancy in common? | CGT Determination 13 is withdrawn with effect from today.
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GSTA TPP 027 | Goods and services tax: can a manager of an agricultural managed investment scheme issue tax invoices for supplies of produce it makes on behalf of participants? | Goods and Services Tax Advice GSTA TPP 027 is withdrawn with effect from today.
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GSTA TPP 056 | Goods and services tax: where an employee novates a lease to his or her employer, can an invoice to the employee be treated as being received by the employer through its agent (the employee)? | Goods and Services Tax Advice GSTA TPP 056 is withdrawn with effect from today.
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