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 |
TD 2018/15 | Income tax: capital gains: does CGT event D1 happen if a taxpayer grants an easement, profit à prendre or licence over an asset? | The Determination sets out the Commissioner’s view on whether a capital gains tax event happens if a taxpayer grants an easement, profit à prendre or licence over an asset. The Determination applies to years of income commencing both before and after 31 October 2018 however it will not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before 31 October 2018. |
TR 2018/7 | Income tax: employee remuneration trusts | The Ruling sets out the Commissioner’s views on how the taxation laws apply to an employee remuneration trust arrangement that operates outside of the employee share scheme rules in Division 83A of the Income Tax Assessment Act 1997. The Ruling applies to years of income commencing both before and after 31 October 2018 however it will not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before the 31 October 2018. |
LCR 2018/8 | Expansion of the taxable payments reporting system to courier and cleaning services | The Ruling sets out the Commissioner’s position on the expansion of the taxable payments reporting system where the Taxation Administration Act 1953 requires entitles that provide courier or cleaning services to report details of transactions where they pay contractors to provide a courier or cleaning service for them. The Ruling applies from 1 July 2018. |
CR 2018/42 | Income tax: Theodore channel scheme – receipt of shares in Theodore Water Pty Ltd | The Ruling sets out the Commissioner’s position on Australian residents who received shares in Theodore Water Pty Ltd. The Ruling applies from 1 July 2018 to 30 June 2019 and continues to apply after 30 June 2019 to all entities within the specified class who entered into the specified scheme during the term of the Ruling. |
NOTICE OF WITHDRAWALS | ||
Ruling Number | Subject | Brief Description |
TD 93/79 | Income tax: capital gains: if a taxpayer owns pre-CGT land and trees and after 19 September 1985 the taxpayer cuts the trees, are there any CGT consequences arising from the subsequent sale of the timber by the taxpayer? | Withdrawn with effect from 31 October 2018. |
TD 93/81 | Income tax: capital gains: a taxpayer owns pre-CGT land and trees. The taxpayer sells timber according to two post-CGT contracts:
How is the sale treated for capital gains tax purposes? | Withdrawn with effect from 31 October 2018. |
TD 93/235 | Income tax: capital gains: how are grants of easements treated for the purposes of the capital gains tax (CGT) provisions of the Income Tax Assessment Act 1936? | Withdrawn with effect from 31 October 2018. |
TD 93/236 | Income tax: capital gains: does the principal residence exemption apply to the amount received for the granting of an easement or profits à prendre over land adjacent to a dwelling? | Withdrawn with effect from 31 October 2018. |
TD 96/35 | Income tax: capital gains: when does a person, who on or after 21 September 1989 grants to another a right to cut and remove timber from the grantor’s land, dispose of the right? Is it when the right is granted or when the trees are felled? | Withdrawn with effect from 31 October 2018. |
TD 2008/20 | Income tax: where a taxpayer has supplied or acquired property under an international agreement and that gives rise to a debt interest or an equity interest as defined for the purposes of Division 974 of the Income Tax Assessment Act 1997, does Division 974 bear upon the characterisation to be adopted for the purposes of the application of Division 13 of Part III of the Income Tax Assessment Act 1936 to the transaction? | Withdrawn with effect from 31 October 2018. |