Notice of Rulings, Notice of Addenda, Notice of Withdrawals

Administered by Department of the Treasury

Legislation au C2015G00423 In force Gazette

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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 2015/23	Income tax: National Australia Bank Limited – issue of NAB Capital Notes	The Ruling sets out the Commissioner’s position for investors who are issued NAB Capital Notes by National Australia Bank Limited. The Ruling applies from 1 July 2014 to 30 June 2022.
GSTR 2015/1	Goods and services tax: the meaning of the terms ‘passed on’ and ‘reimburse’ for the purposes of Division 142 of the A New Tax System (Goods and Services Tax) Act 1999	The Ruling sets out the Commissioner’s position for the meaning of the terms ‘passed on’ and ‘reimburse’ in relation to an amount of excess GST. The Ruling applies both before and after its date of issue.
PR 2015/2	Income tax: tax consequences for a borrower being charged a discounted home loan interest rate calculated under Loan Reducer	The Ruling sets out the Commissioner’s position for those that enter the scheme in relation to the application of the Loan Reducer system to calculate a discounted interest rate that is charged by a lending institution on the home loan of a borrower who (directly or indirectly via an associated entity) also has an investment loan with that lender. The Ruling applies prospectively from 25 March 2015, the date it is published.
TD 2015/4	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 2015?	The Determination sets out the Commissioner’s position for the indexation factors for valuing non-remote housing for the FBT year commencing 1 April 2015. The Determination applies to the FBT year commencing 1 April 2015.
TD 2015/5	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 2015?	The Determination sets out the Commissioner’s position for the exemption threshold for the FBT year commencing 1 April 2015. The Determination applies to the FBT year commencing 1 April 2015.
TD 2015/6	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 2015?	The Determination sets out the Commissioner’s position for the rates to be used on a cents per kilometre basis for the FBT year commencing 1 April 2015. The Determination applies to the FBT year commencing 1 April 2015.
TD 2015/7	Fringe benefits tax: reasonable amounts under section 31G of the Fringe Benefits Tax Assessment Act 1986 for food and drink expenses incurred by employees receiving a living‑away‑from‑home allowance fringe benefit for the fringe benefits tax year commencing on 1 April 2015	The Determination sets out the Commissioner’s position for reasonable amounts for food and drink expenses for the FBT year commencing 1 April 2015. The Determination applies to the FBT year commencing on 1 April 2015.
TD 2015/8	Fringe benefits tax: what is the benchmark interest rate to be used for the fringe benefits tax year commencing on 1 April 2015?	The Determination sets out the Commissioner’s position for the benchmark interest rate for the FBT year commencing 1 April 2015. The Determination applies to the FBT year commencing on 1 April 2015.

NOTICE OF ADDENDA
Ruling Number	Subject	Brief Description
TR 2006/10	Public Rulings	The Addendum amends Taxation Ruling TR 2006/10 to take into account: that the administrative penalty contained in Division 284 of Schedule 1 to the Taxation Administration Act 1953 applies in relation to the Petroleum Resource Rent Tax (PRRT) matters the repeal of the Minerals Resource Rent Tax Act 2012 (MRRT). The Addendum applies in relation to the: application of the administrative penalty to PRRT matters on and from 1 July 2012, and repeal of the MRRT on and from 30 September 2014.
TR 2006/11	Private Rulings	The Addendum amends Taxation Ruling TR 2006/11 to take into account the repeal of the Minerals Resource Rent Tax Act 2012. The Addendum applies on and from 30 September 2014.

NOTICE OF WITHDRAWALS
Ruling Number	Subject	Brief Description
TD 92/181	Income tax: do mutual receipts form part of ‘exempt income’ in the context of general domestic current year losses and undeducted prior year losses?	Taxation Determination TD 92/181 is withdrawn with effect from 25 March 2015.
TD 93/7	Income tax: under what circumstances is a strata title body corporate required to lodge an income tax return?	Taxation Determination TD 93/7 is withdrawn with effect from 25 March 2015.
TD 93/73	Income tax: will a strata title body corporate be taxed as a non‑profit company if it includes non‑profit clauses in its by‑laws?	Taxation Determination TD 93/73 is withdrawn with effect from 25 March 2015.
TD 96/22	Income tax: does the interest payable on late levies represent assessable income of a body corporate?	Taxation Determination TD 96/22 is withdrawn with effect from 25 March 2015.

Overview

The Commissioner of Taxation, Chris Jordan, has issued several rulings and determinations under the authority of the Australian Taxation Office (ATO) as of 2015. These rulings and determinations address various aspects of Australian taxation law, including income tax, fringe benefits tax, and goods and services tax. The rulings and determinations provide clarity and guidance to taxpayers on specific issues, such as the tax consequences of certain financial arrangements or the application of indexation factors for fringe benefits tax purposes. The ATO, under the Commissioner of Taxation, enacts these rulings and determinations to ensure compliance with Australian tax laws and to provide certainty to taxpayers regarding their obligations. The rulings and determinations are applicable from the specified dates mentioned in each document and provide essential information for taxpayers and their advisers.

Scope and Application

The Commissioner of Taxation, Chris Jordan, has issued several rulings and determinations that outline specific tax positions for various entities and transactions. These rulings cover a broad spectrum of tax-related issues, including income tax for investors with NAB Capital Notes, the meaning of terms like 'passed on' and 'reimburse' in the context of excess GST, and tax consequences for borrowers with discounted home loan interest rates calculated under the Loan Reducer system. The rulings apply to different timeframes, some prospectively from their publication date and others covering specific periods, such as from 1 July 2014 to 30 June 2022. These rulings and determinations are applicable to the relevant taxpayers and entities as specified in each ruling. Furthermore, some rulings have been amended to reflect changes in the law, such as the repeal of the Minerals Resource Rent Tax Act 2012, while others have been withdrawn entirely. These rulings and determinations serve to provide clarity and guidance to taxpayers on their obligations and entitlements under the Australian tax system.

Key Provisions

The Commissioner of Taxation has issued several rulings, determinations, and amendments related to various aspects of Australian tax law, as outlined in the Gazette notice C2015G00423. These rulings provide clarification on specific tax issues and apply to designated periods. Firstly, CR 2015/23 outlines the Commissioner's position regarding income tax implications for investors holding NAB Capital Notes issued by National Australia Bank Limited, effective from 1 July 2014 to 30 June 2022. GSTR 2015/1 addresses the interpretation of the terms 'passed on' and 'reimburse' under the GST Act for excess GST amounts, with retrospective and prospective application. PR 2015/2 details the tax consequences for borrowers benefiting from a discounted home loan interest rate calculated through the Loan Reducer system, effective from 25 March 2015. Additionally, several Taxation Determinations (TD) for the 2015 Fringe Benefits Tax year, including TD 2015/4 to TD 2015/8, specify indexation factors, exemption thresholds, rates for vehicle usage, reasonable food and drink expenses, and the benchmark interest rate, all applicable from 1 April 2015. These rulings and determinations impose obligations on taxpayers to interpret and apply the specified provisions accurately in their tax affairs. For example, investors in NAB Capital Notes must understand the income tax implications as set out in CR 2015/23, while entities dealing with GST reimbursements must adhere to the definitions provided in GSTR 2015/1. Similarly, borrowers using the Loan Reducer system must be aware of the tax consequences outlined in PR 2015/2. Employers and employees must also consider the fringe benefits tax rates and thresholds specified in the TD series for the 2015 FBT year. Failure to comply with these rulings and determinations may result in various consequences. For instance, incorrect application of the NAB Capital Notes ruling could lead to misstated income tax liabilities, while improper interpretation of GST terms might result in incorrect claims or reimbursements. Non-compliance with the Loan Reducer system's tax implications could lead to additional tax assessments. The penalties for non-compliance with tax laws generally include fines, interest on unpaid taxes, and potential prosecution for serious or willful breaches. The maximum penalties can vary widely depending on the nature and severity of the breach, ranging from administrative penalties to substantial fines and imprisonment in cases of fraud or serious tax evasion.

Area of Law: Taxation Law
Instrument: Gazette Notice
Concepts: Definitions & Interpretation; Offence Provisions; Reporting & Disclosure Obligations

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.

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