COMMISSIONER OF TAXATION
The Commissioner of Taxation, Chris Jordan, gives notice of the following Rulings, copies of which can be obtained from http://ato.gov.au/law.
NOTICE OF RULINGS | ||
Ruling Number | Subject | Brief Description |
CR 2018/1 | Income tax: Bendigo and Adelaide Bank Limited – Converting Preference Shares 4 | The Ruling sets out the Commissioner’s position on investors who acquired Converting Preference Shares 4 (CPS4) in Bendigo and Adelaide Bank Limited (BEN). This Ruling applies from 1 July 2017 to 30 June 2027. The Ruling continues to apply after 30 June 2027 to all entities within the specified class who entered into the specified scheme during the term of the Ruling. |
CR 2018/2 | Income tax: IMB Limited – Off market share buy back | The Ruling sets out the Commissioner’s position on ordinary shareholders who are also referred to as Shareholder Members of IMB Limited (IMB). This Ruling applies from 1 July 2017 to 30 June 2018. The Ruling continues to apply after 30 June 2018 to all entities within the specified class who entered into the specified scheme during the term of the Ruling. |
CR 2018/3 | Income tax: Bank of Queensland – BOQ Capital Notes | The Ruling sets out the Commissioner’s position on investors who acquired fully paid mandatorily convertible subordinated perpetual debt securities in the form of unsecured notes issued (BOQ Capital Notes) by Bank of Queensland (BOQ). This Ruling applies from 1 July 2017 to 30 June 2018. The Ruling continues to apply after 30 June 2018 to all entities within the specified class who entered into the specified scheme during the term of the Ruling. |
TD 2017/26 | Income tax: employee share schemes - when a dividend equivalent payment is assessable to an employee as remuneration | The Determination sets out the Commissioner’s position on when a dividend equivalent payment is assessable income as remuneration, and therefore ordinary income, under section 6-5 of the Income Tax Assessment Act 1997 (ITAA 1997) to an employee (you) as an Australian resident participant of an employee share scheme (ESS) and beneficiary of a trust. The Determination applies to dividend equivalent payments where they are paid under the terms and conditions attached to ESS interests granted on or after 1 January 2018. |
NOTICE OF ADDENDA | ||
Ruling Number | Subject | Brief Description |
GST Industry Issue Detailed food list | Details of the GST status of major food and beverage product lines | This addendum amends Detailed food list to include an entry for smoothie packs. The Addendum applies on and from 17 January 2018. |
CR 2013/15 | Income tax: Leighton Holdings Limited Equity Incentive Plan | This Addendum amends Class Ruling CR 2013/15. The Addendum applies on and from 1 January 2018. |
GSTR 2004/9 | Goods and services tax: GST consequences of the assumption of vendor liabilities by the purchaser of an enterprise | This Addendum amends Goods and Services Tax Ruling GSTR 2004/9. The Addendum applies on and from 20 December 2017. |
GSTR 2006/9 | Goods and services tax: supplies | This Addendum amends Goods and Services Tax Ruling GSTR 2006/9. The Addendum applies on and from 20 December 2017. |
GSTR 2009/2 | Goods and services tax: partitioning of land | This Addendum amends Goods and Services Tax Ruling GSTR 2009/2. The Addendum applies on and from 20 December 2017. |
NOTICE OF WITHDRAWALS | ||
Ruling Number | Subject | Brief Description |
IT 2385 | Income tax: expenses incurred by beneficiaries of discretionary trusts | Withdrawn with effect from 13 December 2017. It is replaced by draft Taxation Determination TD 2017/D4 Income tax: deductibility of interest expenses incurred by a beneficiary of a discretionary trust on borrowings on-lent interest free to the trustee. Publication date 13 December 2017 |