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 |
TR 2014/5 | Income tax: matrimonial property proceedings and payments of money or transfers of property by a private company to a shareholder (or their associate) | The Ruling sets out the Commissioner’s position on matrimonial property transfers. The Ruling applies both before and after its date of issue. |
GSTD 2014/3 | Goods and services tax: do payments made by a vendor to a purchaser of real property when the rent received falls below a rental yield guaranteed by the vendor give rise to an adjustment event for the purposes of Division 19 of the A New Tax System (Goods and Services Tax) Act 1999? | The Determination sets out the Commissioner’s position on payments made by a vendor to a purchaser of real property. The Determination applies both before and after its date of issue. |
CR 2014/61 | Income tax: off market share buy‑back – Tower Limited | The Ruling sets out the Commissioner’s position for holders of ordinary shares in Tower Limited. The Ruling applies from 1 July 2013 to 30 June 2014. |
CR 2014/62 | Income tax: private practice arrangement for Medical Practitioners of the Intensive Care Unit of the Royal Melbourne Hospital | The Ruling sets out the Commissioner’s position for Medical Practitioners of the Intensive Care Unit of the Royal Melbourne Hospital, who enter into a Private Practice Agreement. The Ruling applies from 1 July 2013. |
NOTICE OF ADDENDA |
Ruling Number | Subject | Brief Description |
FTR 2007/1 | Fuel tax: the meaning of ‘acquire’, ‘manufacture’ and ‘import’ in the expression ‘taxable fuel that you acquire or manufacture in, or import into, Australia to the extent that you do so for use in carrying on your enterprise’ in the Fuel Tax Act 2006 | The Addendum amends Fuel Tax Ruling FTR 2007/1 to reflect changes to the Fuel Tax Act 2006 as a result of the Clean Energy Legislation (Carbon Tax Repeal) Act 2014. The Addendum applies on and from 1 July 2014. |
FTR 2008/1 | Fuel tax: vehicle’s travel on a public road that is incidental to the vehicle’s main use and the road user charge | The Addendum amends Fuel Tax Ruling FTR 2008/1 to reflect changes to the Fuel Tax Act 2006 as a result of the Clean Energy Legislation (Carbon Tax Repeal) Act 2014. The Addendum applies on and from 1 July 2014. |
FTD 2006/2 | Fuel tax: what records are required to be kept by taxpayers to substantiate a claim for a fuel tax credit? | The Addendum amends Fuel Tax Determination FTD 2006/2 to reflect changes to the Fuel Tax Act 2006 as a result of the Clean Energy Legislation (Carbon Tax Repeal) Act 2014. The Addendum applies on and from 1 July 2014. |
FTD 2010/1 | Fuel tax: is apportionment used when determining total fuel tax credits in calculating the net fuel amount under section 60‑5 of the Fuel Tax Act 2006? | The Addendum amends Fuel Tax Determination FTD 2010/1 to reflect changes to the Fuel Tax Act 2006 as a result of the Clean Energy Legislation (Carbon Tax Repeal) Act 2014. The Addendum applies on and from 1 July 2014. |
NOTICE OF WITHDRAWALS |
Ruling Number | Subject | Brief Description |
FTR 2012/1 | Fuel tax: fuel tax credits for taxable fuel acquired or manufactured in, or imported into, Australia for use in carrying on an enterprise involving ‘agriculture’ as defined in section 43‑15 of the Fuel Tax Act 2006 | Fuel Tax Ruling FTR 2012/1 is withdrawn with effect from 1 July 2004, the date Subdivision 43‑B of the Fuel Tax Act 2006 was repealed. |
FTR 2012/2 | Fuel tax: fuel tax credits for taxable fuel acquired or manufactured in, or imported into, Australia for use in carrying on an enterprise involving ‘forestry’ as defined in section 43‑75 of the Fuel Tax Act 2006 | Fuel Tax Ruling FTR 2012/2 is withdrawn with effect from 1 July 2014, the date Subdivision 43‑B of the Fuel Tax Act 2006 was repealed. |
FTR 2012/3 | Fuel tax: fuel tax credits for taxable fuel acquired or manufactured in, or imported into, Australia for use in carrying on an enterprise involving ‘fishing operations’ as defined in section 43‑70 of the Fuel Tax Act 2006 | Fuel Tax Ruling FTR 2012/3 is withdrawn with effect from 1 July 2014, the date Subdivision 43‑B of the Fuel Tax Act 2006 was repealed. |
Overview
The Commissioner of Taxation, Chris Jordan, has issued a notice regarding various rulings, determinations, and addenda under the Clean Energy Legislation (Carbon Tax Repeal) Act 2014. These documents are intended to provide clarity and guidance on the implications of the Act, which was enacted to repeal the carbon pricing mechanism introduced by the Clean Energy Act 2011. The rulings and determinations address specific issues such as the treatment of matrimonial property proceedings, payments made by vendors to purchasers of real property, and the definitions of key terms in the Fuel Tax Act 2006. The objective of these notices is to ensure taxpayers are aware of their obligations and entitlements in light of the legislative changes. These rulings and determinations apply both before and after their date of issue, providing retrospective effect where necessary.
Scope and Application
The Gazette Notice C2014G01251 outlines a series of tax rulings and determinations issued by the Commissioner of Taxation, Chris Jordan, covering various aspects of income tax, goods and services tax, and fuel tax. These rulings and determinations apply to a wide range of entities, including private companies, medical practitioners, and businesses engaged in various industries. The rulings address specific issues such as matrimonial property proceedings, off-market share buy-backs, private practice arrangements for medical practitioners, and the application of fuel tax credits. The geographic reach of these rulings is national, as they are issued under the Commonwealth of Australia's tax laws. Notably, some of these rulings have specific application periods, such as the ruling on Tower Limited's off-market share buy-back, which applies from 1 July 2013 to 30 June 2014. Additionally, several amendments and addendums to previous rulings reflect changes in the law, such as those resulting from the Clean Energy Legislation (Carbon Tax Repeal) Act 2014. Certain rulings have been withdrawn, reflecting the repeal of specific sections of the Fuel Tax Act 2006. These legislative instruments extend and clarify the application of existing laws through detailed interpretations and clarifications provided by the Commissioner of Taxation.
Key Provisions
The Commissioner of Taxation has issued several Rulings, Determinations, and Rulings with Addenda, as well as Withdrawals, in relation to various tax laws. The Rulings and Determinations provide guidance on specific tax issues, while the Addenda update previous Rulings and Determinations to reflect legislative changes. The Withdrawals indicate that certain Rulings are no longer applicable due to the repeal of relevant provisions. TR 2014/5 (paragraph 1) outlines the Commissioner’s position on matrimonial property proceedings and payments of money or transfers of property by a private company to a shareholder or their associate, applicable both before and after the Ruling’s issuance. GSTD 2014/3 (paragraph 2) addresses whether payments made by a vendor to a purchaser of real property when the rent falls below a guaranteed rental yield trigger an adjustment event under Division 19 of the A New Tax System (Goods and Services Tax) Act 1999. These Rulings and Determinations apply both before and after their issue dates.
The Rulings and Determinations impose obligations on the parties or entities they govern, such as providing clarity on tax treatment and ensuring compliance with the relevant tax laws. For example, TR 2014/5 requires companies to adhere to the Commissioner’s position on matrimonial property transfers, while GSTD 2014/3 requires vendors and purchasers to understand the tax implications of payments made under certain real property transactions. The Addenda update previous Rulings and Determinations to reflect legislative changes, ensuring that taxpayers remain informed of any changes in the law.
There are no explicit offences, penalties, or consequences for breach outlined in the Rulings, Determinations, or Addenda. However, non-compliance with the guidance provided may result in the Commissioner taking action to ensure compliance, such as issuing a notice of assessment or initiating legal proceedings. The maximum penalties for tax-related offences are outlined in the relevant tax legislation, such as the Income Tax Assessment Act 1936 and the A New Tax System (Goods and Services Tax) Act 1999. These penalties may include fines, imprisonment, or both, depending on the offence and the circumstances of the case.