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 2016/11 | Income tax: what is the benchmark interest rate applicable for the year of income that commenced on 1 July 2016 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 income year commencing on 1 July 2016. The Determination applies to the income year commencing on 1 July 2016. |
TD 2016/12 | Income tax: capital gains: what is the improvement threshold for the 2016-17 income year under section 108-85 of the Income Tax Assessment Act 1997? | The Determination sets out the Commissioner’s position on the improvement threshold for the 2016‑17 income year. The Determination applies for the 2016‑17 income year. |
CR 2016/46 | Income tax: Returns of share capital: IPE Limited. | The Ruling sets out the Commissioner’s position for holders of ordinary shares in IPE Limited. The Ruling applies from 1 July 2015 to 30 June 2016. |
CR2016/47 | Income tax and fringe benefits tax: customers of Intellitrac Pty Ltd as trustee for The Calapai Family Trust trading as IntelliTrac who use the IntelliTrac FBT e-Logbook for their log book records. | The Ruling sets out the Commissioner’s position for customers of Intellitrac Pty Ltd as trustee for The Calapai Family Trust trading as IntelliTrac who use the IntelliTrac FBT e‑Logbook for the purposes of section 10 of the Fringe Benefits Tax Assessment Act 1986 or Subdivision 28‑F of the Income Tax Assessment Act 1997. The Ruling applies from 1 April 2016. |
GSTD 2016/2 | Goods and services tax: can Division 142 of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act) prevent refunds of increasing adjustments made under section 19-50 of the GST Act? | The Determination sets out the Commissioners position in regard to an increasing adjustment made under section 19‑50 which can give rise to an amount of excess GST within the meaning of Division 142. The Determination applies both before and after its date of issue. |
TR 2016/1 | Income tax: effective life of depreciating assets (applicable from 1 July 2016). | The Ruling sets out the Commissioner’s methodology used in making a determination of the effective life of depreciating assets The Ruling applies from 1 July 2016. |
LCG 2016/5 | Foreign resident capital gains withholding regime: the Commissioner’s variation power | The Guideline describes how the Commissioner will apply section 14-235 of Schedule 1 of the Taxation Administration Act 1953, to entities that rely on this Guideline in good faith. The Ruling applies from 1 July 2016. |
LCG 2016/6 | Foreign resident capital gains withholding regime: amount payable to the Commissioner | The Guideline describes how the Commissioner will apply Subdivision 14-D in Schedule 1 of the Taxation Administration Act 1953 in determining the amount to be withheld, to entities that rely on this Guideline in good faith. The Ruling applies from 1 July 2016. |
LCG 2016/7 | Foreign resident capital gains withholding regime: options | The Guideline describes how the Commissioner will apply the law in Subdivision 14-D in Schedule 1 to the Taxation Administration Act 1953 to CGT assets that are options and CGT assets acquired as a result of exercising an option, to entities that rely on this Guideline in good faith. The Ruling applies from 1 July 2016. |
NOTICE OF WITHDRAWAL | ||
Ruling Number | Subject | Brief Description |
TR 2015/2 | Income tax: effective life of depreciating assets (applicable from 1 July 2015) | Taxation Ruling TR 2015/2 is withdrawn with effect from 1 July 2016. |