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 |
TD 2014/8 | Income tax: does a franking credit arise in the franking account of a head company of a consolidated group when a franked distribution is made by an entity that is not a member of the consolidated group to a trust that is a subsidiary member of the consolidated group? | The Determination sets out the Commissioner’s opinion on franking credits.
The Determination applies to years of income commencing both before and after its date of issue. |
TD 2014/9 | 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 2014
| The Determination sets out the amounts that the Commissioner considers reasonable for food and drink expenses for employees receiving a living-away-from-home allowance.
The Determination applies to the FBT year commencing on 1 April 2014. |
CR 2014/39 | Income tax: Microsoft Corporation 2001 Stock Plan
| The Ruling sets out the Commissioner’s opinion for employees of Microsoft Pty Ltd receiving Stock Awards.
The Ruling applies from 13 December 2011. |
NOTICE OF ADDENDUM | ||
Ruling Number | Subject | Brief Description |
MT 2008/2 | Shortfall penalties: administrative penalty for taking a position that is not reasonably arguable
| The Addendum amends Miscellaneous Tax Ruling MT 2008/2 to reflect amendments to the Taxation Administration Act 1953 (TAA) contained in the Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Act 2013 (Amendment Act). Under the Amendment Act an entity will be liable to a scheme penalty under subsection 284‑145(2B) of the TAA where the transfer pricing provisions in Subdivisions 815‑B or 815‑C of the Income Tax Assessment Act 1997 apply. Where this penalty applies, the Amendment Act inserts Subdivision 284‑E that states that an entity will not have a reasonably arguable position for a matter if the entity has not met specific documentation requirements for that matter.
Application: This Addendum applies on and from 29 June 2013. |
NOTICE OF WITHDRAWALS | ||
Ruling Number | Subject | Brief Description |
GSTA TPP 019 | Goods and services tax: are sales of section 100‑5 vouchers, commonly referred to as face value vouchers (FVVs), to retail outlets and subsequent sales of the same vouchers to customers taxable supplies? | Withdrawn with effect from 16 April 2014. |
GSTA TPP 020 | Goods and services tax: when a retail outlet makes a supply to a customer in exchange for a section 100-5 voucher, commonly referred to as a face value voucher (FVV), is the supply by the retail outlet a taxable supply? | Withdrawn with effect from 16 April 2014. |