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 |
TR 2017/2 | Income tax: effective life of depreciating assets (applicable from 1 July 2017) | The Ruling sets out the Commissioner’s opinion on the effective lifeof depreciating assets for the 2017‑2018 financial year. The Ruling applies from 1 July 2017. |
TR 2017/3 | Income tax: distributions from foreign companies – meaning of ‘at the time the distribution is made’ when applying the participation test | The Ruling sets out the Commissioner’s opinion on the meaning of ‘at the time the distribution is made’ when applying the participation test in subdivision 768‑A. The Ruling applies to foreign equity distributions made on or after 17 October 2014, being the date Subdivision 768‑A commenced operation. |
TD 2017/17 | Income tax: what is the benchmark interest rate applicable for the year of income that commenced on 1 July 2017 for the purposes of Division 7A of Part III of the Income Tax Assessment Act 1936 and how is it used? | The Determination sets out the Commissioner’s position on the benchmark interest rate for the 2017‑18 income year for the purposes of sections 109N and 109E of the Income Tax Assessment Act 1936. The Determination applies to the income year commencing on 1 July 2017. |
TD 2017/18 | Income tax: what is the car limit under section 40‑230 of the Income Tax Assessment Act 1997 for the 2017‑18 financial year? | The Determination sets out the Commissioner’s position on what the car limit under section 40‑230 of the Income Tax Assessment Act 1997 for the 2017‑18 financial year? The Determination applies for the financial year commencing on 1 July 2017. |
CR 2017/37 | Income tax: demerger of Alcoa Corporation from Alcoa Inc. (now Arconic Inc.) | The Ruling sets out the Commissioner’s position on shareholders of the demerger of Alcoa Inc., now named Arconic Inc. The Ruling applies from 1 July 2016 to 30 June 2017. |
CR 2017/38 | Fringe benefits tax: employer clients of Community Sector Banking Pty Limited who are subject to the provisions of either section 57A or 65J of the Fringe Benefits Tax Assessment Act 1986 that make use of a B‑Maximised MasterCard credit card facility | The Ruling sets out the Commissioner’s position on employer clients of Community Sector Banking Pty Limited who are subject to the provisions of either section 57A or 65J of the Fringe Benefits Tax Assessment Act 1986 that make use of a B‑Maximised MasterCard credit card facility. The Ruling applies from 1 April 2017 to 31 March 2020. |
CR 2017/39 | Income tax: Henderson Group plc – consolidation of shares and of ASX CHESS Depositary Interests | The Ruling sets out the Commissioner’s position on shareholders of Henderson Group plc and/or persons who held ASX CHESS Depositary Interests that represent a Henderson share. The Ruling applies to the income year ending 30 June 2017. |
PR 2017/7 | Income tax: taxation consequences of investing in CDIs over interests in the SPDR® S&P 500® ETF Trust | The Ruling sets out the Commissioner’s position on taxation consequences of investing in CDIs over interests in the SPDR® S&P 500® ETF Trust. The Product Ruling applies prospectively from 1 July 2017. |
NOTICE OF ADDENDA | ||
Ruling Number | Subject | Brief Description |
LCG 2016/5 | Foreign resident capital gains withholding regime: the Commissioner’s variation power | The Addendum amends LCG 2016/5 to reflect amendments made to the foreign resident capital gains withholding rules. The Addendum applies on and from 22 June 2017. |
LCG 2016/6 | Foreign resident capital gains withholding regime: amount payable to the Commissioner | The Addendum amends LCG 2016/6 to reflect amendments made to the foreign resident capital gains withholding rules. The Addendum applies on and from 22 June 2017. |
LCG 2016/7 | Foreign resident capital gains withholding regime: options | This Addendum amends LCG 2016/7 to reflect amendments made to the foreign resident capital gains withholding rules. The Addendum applies on and from 22 June 2017. |
NOTICE OF WITHDRAWALS | ||
Ruling Number | Subject | Brief Description |
TR 2016/1 | Income tax: effective life of depreciating assets (applicable from 1 July 2016) | Withdrawn with effect from 1 July 2017. |
PR 2017/1 | Income tax: Quintis Sandalwood Album Project 2017 Retail Investment Offer | Withdrawn with effect from 28 June 2017. |
PR 2017/5 | Income tax: Quintis Sandalwood Album Project 2017 Sophisticated Investment Offer | Withdrawn with effect from 28 June 2017. |