Notice of Rulings, Notice of Withdrawals, Notice of Errata

TD 2012/21

Income tax:  does CGT event E1 or E2 in sections 104‑55 or 104‑60 of the Income Tax Assessment Act 1997 happen if the terms of a trust are changed pursuant to a valid exercise of a power contained within the trust's constituent document, or varied with the approval of a relevant court?

This Determination concludes that CGT event E1 or E2 happen if the terms of a trust are changed pursuant to a valid exercise of a power contained within the trust's constituent document, or varied with the approval of a relevant court.

Subject to the exception mentioned in paragraph 13, this Determination applies both before and after its date of issue.

TD 2012/22

Income tax:  for the purposes of paragraph 97(1)(a) of the Income Tax Assessment Act 1936 (ITAA 1936) is a beneficiary's share of the net income of a trust estate worked out by reference to the proportion of the income of the trust estate to which the beneficiary is presently entitled?

This Determination concludes that a beneficiary's share of the net income of a trust estate is worked out by reference to the proportion of the income of the trust estate to which the beneficiary is presently entitled.

This Determination applies to years of income commencing both before and after its date of issue.

CR 2012/94

Income tax:  deductibility of employer contributions to the Australian Construction Industry Redundancy Trust

This Ruling outlines the tax consequences for those employers who make contributions to the Australian Construction Industry Redundancy Trust (ACIRT) on behalf of the workers who are members of ACIRT.

This Ruling applies from 1 July 2012 to 30 June 2018.

CR 2012/95

Income tax:  Department of Health and Human Services (Tasmania) Self-Directed Funding by direct payments

This Ruling outlines the tax consequences for persons with a disability receiving disability services funded by the Department of Health and Human Services (Tasmania) and nominated persons as defined in the Self-Directed Funding Direct Payments Guidelines who have an Individual Support Package and enter into a Direct Payment Deed with the Department to receive funds for the purpose of purchasing disability services.

This Ruling applies from 1 July 2012. 

CR 2012/96

Income tax:  Bendigo and Adelaide Bank Limited – allotment of convertible preference shares (CPS)

This Ruling outlines the tax consequences for  subscribers of Convertible Preference Shares in Bendigo and Adelaide Bank Limited who hold those CPS on capital account and are Australian residents within the meaning of subsection 995‑1(1).

This Ruling applies from 24 October 2012 to 30 June 2020.

CR 2012/97

Income tax:  Google Inc. 2004 Stock Plan:  Australian Resident Employees

This Ruling outlines the tax consequences for employees of Google Inc and its subsidiaries Google Australia Pty Limited and DoubleClick Australia Pty Ltd.

This Ruling applies from 1 July 2012 to 30 June 2017.

IT 2258

Income tax:  election expenses:  deductibility of expenditure incurred and effect of public funding of elections

Taxation Ruling IT 2258 is withdrawn with effect from today.

CR 2001/81

Income tax:  exempt foreign employment income: section 23AG: Boeing Australia Limited

Class Ruling CR 2001/81 is withdrawn with effect from today.

TR 2010/1A

Income tax: superannuation contributions

This Erratum corrects Taxation Ruling TR 2010/1A to correct paragraph references in the detailed contents list.

This Erratum applies on and from 22 August 2012.

CR 2012/38

Income tax:  merger of Xstrata plc and Glencore International plc – Xstrata plc Long Term Incentive Plan

This Erratum corrects Class Ruling CR 2012/38 to update the News Release reference at paragraph 9 and to reflect the correct ratio of shares at paragraphs 13, 20 and 22.

This Erratum applies on and from 13 June 2012.