The Commissioner of Taxation, Chris Jordan, gives notice of the following Rulings, copies of which can be obtained from ato.gov.au/law.
NOTICE OF RULINGS | ||
Ruling number | Subject | Brief description |
CR 2019/33 | Property Exchange Australia Limited – Employee Share Option Plan – Commissioner’s discretion to reduce the minimum holding period in relation to options acquired | This Ruling sets out the Commissioner’s position on participants in the Property Exchange Australia Limited Employee Share Option Plan. The Ruling applies to the specified class of entities that enter into the scheme from 1 July 2018 until 30 June 2019. |
LCR 2019/1 | The business continuity test – carrying on a similar business | This Ruling sets out the Commissioner’s view on what is considered to be ‘carrying on a similar business’ for the purpose of the business continuity test introduced by the Treasury Laws Amendment (2017 Enterprise Incentives No. 1) Act 2019. |
PR 2019/2 | Income tax: W.A. Blue Gum Project 2019 | This Ruling sets out the Commissioner’s position on the tax consequences for investors in the W.A. Blue Gum Project 2019 This Ruling applies only to the specified class of entities that enter into the scheme from 22 May 2019 until 30 June 2019. |
TD 2019/8 | Income tax: in the definition of ‘financial intermediary business’ what is meant by ‘a business whose income is principally derived from the lending of money’? | TD 2019/8 finalises draft ruling TD 2019/D3 Income tax: in the definition of ‘financial intermediary business’ what is meant by ‘a business whose income is principally derived from the lending of money’? and sets out the Commissioner’s view of what will be considered to fall within the meaning of that phrase. |
TR 2019/2 | Income tax: whether penalty interest is deductible | This Ruling is a rewrite of TR 93/7 Income tax: whether penalty interest payments are deductible to reflect current legislative provisions and sets out the Commissioner’s view on when penalty interest is deductible. The Ruling applies to years of income commencing both before and after its date of issue. |
NOTICE OF WITHDRAWAL | ||
Ruling number | Subject | Brief description |
TR 93/7 | Income tax: whether penalty interest payments are deductible | TR 93/7 is withdrawn with effect from 22 May 2019. |