On  Wed 2.8.2017, the ATO issued 5 Class Rulings:

  • CR 2017/47South32 Illawarra Coal Holdings Pty Ltd Retirement Scheme 2017. The ATO accepts that the scheme is an early retirement scheme for the purposes of s 83-180 of the ITAA 1997. The ruling applies from 2 August 2017 to 30 April 2018;
  • CR 2017/48CGT roll-over: exchange of shares in Touchcorp Limited for shares in Afterpay Touch Group Limited. It provides that participating shareholders who dispose of their Touchcorp shares are eligible to choose rollover under Div 615 of the ITAA97 (scrip for scrip) roll-over and can therefore disregard any capital gain made from the disposal. The ruling applies from 1 July 2017 to 30 June 2018;
  • CR 2017/49CGT roll-over: exchange of shares in Afterpay Holdings Limited for shares in Afterpay Touch Group Limited. The ruling states that participating shareholders who make a capital gain from exchanging their shares can choose scrip-for-scrip roll-over. It applies from 1 July 2017 to 30 June 2018;
  • CR 2017/50roll-over: exchange of employee share rights in Afterpay Holdings Limited for share rights in Afterpay Touch Group Limited. It explains when a capital gain from the exchange of rights can be disregarded. Generally, if no prior ESS deferred taxing point happened to the employee share rights, the exchange is eligible for Div 83A roll-over. The ruling applies from 1 July 2017 to 30 June 2018; and
  • CR 2017/51EnergyAustralia Yallourn Early Retirement Scheme 2017. The ATO accepts that the scheme is an early retirement scheme for s 83-180 purposes. The ruling applies from 2 August 2017 to 31 August 2018.

[LTN 145, 2/8/17]

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