Notice of Rulings, Notice of Withdrawals

NOTICE OF RULINGS

Ruling number

Subject

Brief description

CR 2019/40

MyLogbook Solution - use for FBT car logbook and odometer records

This Ruling sets out the tax consequences of using the MyLogbook Solution for calculating the taxable value of a car fringe benefit using the cost basis method.

This Ruling applies from 1 April 2019 to 31 March 2023.

CR 2019/41

YWCA Canberra Ltd – deductibility of donations under a Payment Direction Deed

This Ruling sets out the tax consequences of a landlord paying donation amounts to YWCA Canberra Limited by way of an executed Payment Direction Deed.

This Ruling applies from 1 July 2018 to 30 June 2023.

CR 2019/42

Amcor Limited – scrip for scrip roll-over

This Ruling sets out the Commissioner’s position on the restructure of Amcor Limited which took place on 11 June 2019.

This Ruling applies from 1 July 2018 to 30 June 2019.

PR 2019/4

Income tax:  Challenger Guaranteed Annuity (Liquid Lifetime) - 2019

This Ruling sets out the Commissioner’s position on the income tax consequences for a defined class of entities which invest in the Challenger Guaranteed Annuity offered by Challenger Life Company Limited under the Product Disclosure Statement dated 6 May 2019.

This Ruling applies only to the specified class of entities that enter into the scheme from 6 May 2019 until 30 June 2022.

TR 2019/5

Income tax:  effective life of depreciating assets (applicable from 1 July 2019)

This Ruling sets out the methodology used by the Commissioner of Taxation to make a determination of the effective life of depreciating assets under section 40–100 of the Income Tax Assessment Act 1997.

The Ruling applies from 1 July 2019.

NOTICE OF WITHDRAWAL

Ruling number

Subject

Brief description

TR 2018/4

Income tax:  effective life of depreciating assets (applicable from 1 July  2018)

TR 2018/4 is withdrawn with effect from 1 July 2019.