On Wed 23.8.2017, the ATO issued 5 Class Rulings:

  • CR 2017/55ENGIE Loy Yang Early Retirement Scheme 2017. The ATO accepts that the scheme set out in the ruling is an early retirement scheme under s 83-180 ITAA 1997. The class ruling applies from 23 August 2017 to 31 August 2019;
  • CR 2017/56South East Water Corporation Early Retirement Scheme 2017. The scheme described in the ruling is an early retirement scheme under s 83-180 ITAA 1997, the ATO says. The class ruling applies from 23 August 2017 to 28 February 2018;
  • CR 2017/57Scrip-for-scrip roll-over – Charter Hall Long WALE REIT Simplification. The ATO states that, subject to satisfying various conditions outlined in the ruling, unitholders who acquire newly issued units in the Charter Hall Direct Industrial Fund in consideration for the transfer of their units in the original trusts can choose scrip-for-scrip roll-over. The class ruling applies from 1 July 2016 to 30 June 2019;
  • CR 2017/58Arconic Inc Employee Share Scheme. It provides that the rights acquired pursuant to the Stock Options and Restricted Stock Units over Alcoa Inc satisfy the definition of “ESS interest” under s 83A-10(1)(b) ITAA 1997. Accordingly, both the Stock Options and the Restricted Stock Units are a beneficial interest in a right to acquire a beneficial interest in a share in the company. The class ruling applies from 1 July 2016 to 30 June 2017; and
  • CR 2017/59Alcoa Corporation – Separation from Alcoa Inc (now Arconic Inc) Employee Share Scheme. It states that the rights acquired pursuant to the Stock Options and Restricted Stock Units over Alcoa Inc satisfy the definition of “ESS interest”, and that the separation and distribution described in the ruling is a restructure under s 83A-130. The ATO therefore treats the new ESS interests as a continuation of the old interests. The class ruling applies from 1 July 2016 to 30 June 2017.

[FJM; LTN 160, 23/8/17; TM August]

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