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 2017/9 | Income tax: value of goods taken from stock for private use for the 2016‑17 income year | The Determination sets out the Commissioner’s position on the value of goods taken from trading stock for private use. The Determination applies to the 2016‑17 income year. |
TD 2017/10 | Income tax: capital gains: can costs that you incur after a CGT event happens be ‘related to’ that CGT event for the purpose of working out your incidental costs? | The Determination sets out the Commissioner’s position on whether costs that are incurred after a CGT event happens, be ‘related to’ that CGT event for the purpose of working out your incidental costs? The Determination applies from 5 April 2017. |
CR 2017/21 | Income tax: treatment of transfer payments to employees in connection with the sale of the Specialist Disability Services business | The Ruling sets out the Commissioner’s position on treatment of transfer payments to employees in connection with the sale of a Specialist Disability Services business. The Ruling applies from 5 April 2017 to 30 June 2019. |
CR 2017/22 | Income tax: Commonwealth Bank of Australia – CommBank PERLS IX Capital Notes | The Ruling sets out the Commissioner’s position on the way investors acquired CommBank PERLS IX Capital Notes. The Ruling applies from 1 July 2016 to 30 June 2025. |
PR 2017/1 | Income tax: Quintis Sandalwood Album Project 2017 Retail Investment Offer | The ruling sets out the Commissioner’s position on Quintis Sandalwood Album Project 2017 Retail Investment Offer. The Product Ruling applies prospectively from 5 April 2017. |
PR 2017/2 | Income tax: deductibility of interest in relation to investment in units in the Macquarie Flexi 100 Trust issued on or before 30 June 2020 | The Ruling sets out the Commissioner’s position on deductibility of interest in relation to investment in units in the Macquarie Flexi 100 Trust. The Product Ruling applies prospectively from 27 March 2017. |
NOTICE OF WITHDRAWALS | ||
Ruling Number | Subject | Brief Description |
TD 23 | Capital gains: can incidental costs incurred after an asset is disposed of form part of the cost base of the asset? | Withdrawn with effect from 5 April 2017. |
TD 93/78 | Income tax: capital gains: under what circumstances will Divisions 10 and 11 of Part IIIA of the Income Tax Assessment Act 1936 apply to options or rights to acquire shares issued by a company to an existing shareholder? | Withdrawn with effect from 5 April 2017. |
TD 94/13 | Income tax: are levies paid by wheatgrowers to the ‘Wheat Industry Fund’, as provided for by the Wheat Marketing Act 1989 and associated legislation, deductible under subsection 51(1) of the Income Tax Assessment Act 1936? Are refunds of ‘equity’ from this Fund assessable income under subsection 25(1)? | Withdrawn with effect from 5 April 2017. |
TD 95/26 | Income tax: can the value of an annuity contract be amortised over the effective life of the annuity and the amortisation expense deducted from the annuity income when calculating the separate net income of a dependant under section 159J of the Income Tax Assessment Act 1936? | Withdrawn with effect from 5 April 2017. |
TD 97/4 | Income tax: how are business profits or losses calculated under Article 4 of Annex D ('the Taxation Code') to the Treaty between Australia and the Republic of Indonesia on the Zone of Cooperation in an Area between the Indonesian Province of East Timor and Northern Australia ('the Timor Gap Treaty')? | Withdrawn with effect from 5 April 2017. |
TD 97/18 | Income tax: life assurance companies - apportionment of current year deductions between classes of assessable income | Withdrawn with effect from 5 April 2017. |
TD 98/5 | Income tax: when calculating separate net income for the purposes of claiming spouse rebate (a) can the cost of work related child care or travel be taken into account; and (b) do the substantiation rules apply? | Withdrawn with effect from 5 April 2017. |
TD 98/18 | Income tax: what are sufficient instructions to enable a payer to make eligible termination payments and what are the record retention requirements for these instructions? | Withdrawn with effect from 5 April 2017. |
TD 2006/35 | Income tax: is a non‑member spouse who is under 55 years of age entitled to a rebate under section 159SM or section 159SU of the Income Tax Assessment Act 1936 when a superannuation pension or ‘eligible annuity’ is split pursuant to an agreement or court order on marriage breakdown on a specified percentage basis? | Withdrawn with effect from 5 April 2017. |
TD 2011/2 | Fringe benefits tax: for the purposes of section 135C of the Fringe Benefits Tax Assessment Act 1986, what is the exemption threshold for the fringe benefits tax year commencing on 1 April 2011? | Withdrawn with effect from 5 April 2017. |
TD 2011/3 | Fringe benefits tax: for the purposes of section 28 of the Fringe Benefits Tax Assessment Act 1986 what are the indexation factors for valuing non‑remote housing for the fringe benefits tax year commencing on 1 April 2011? | Withdrawn with effect from 5 April 2017. |
TD 2011/4 | Fringe benefits tax: for the purposes of Division 7 of Part III of the Fringe Benefits Tax Assessment Act 1986, what amount represents a reasonable food component of a living-away-from-home allowance for expatriate employees for the fringe benefits tax year commencing on 1 April 2011? | Withdrawn with effect from 5 April 2017. |
TD 2011/5 | Fringe benefits tax: what are the rates to be applied on a cents per kilometre basis for calculating the taxable value of a fringe benefit arising from the private use of a motor vehicle other than a car for the fringe benefits tax year commencing on 1 April 2011? | Withdrawn with effect from 5 April 2017. |
TD 2011/6 | Fringe benefits tax: what is the benchmark interest rate to be used for the fringe benefits tax year commencing on 1 April 2011? | Withdrawn with effect from 5 April 2017. |
TR 2002/11 | Income tax: Simplified Tax System eligibility - STS average turnover | Withdrawn with effect from 5 April 2017. |
NOTICE OF ERRATUM | ||
Ruling Number | Subject | Brief Description |
FTR 2008/1 | Fuel tax: vehicle’s travel on a public road that is incidental to the vehicle’s main use and the road user charge | The Erratum corrects a typographical error in Fuel Tax Ruling FTR 2008/1. The Erratum applies on and from 5 April 2017. |