Monthly Archives: June 2016

CR 2016/24 & 25 – Early Retirement Scheme and Scheme of Arrangement and payment of an ‘interim’ and ‘special’ dividend

On Wed 4.5.16 the ATO issued the following Class Rulings: CR 2016/24: Essential Energy Transformation Early Retirement Scheme. It applies from 4 May 2016 to 31 December 2017. CR 2016/25: Colorpak Limited – Scheme of Arrangement and payment of Interim and Special Dividends. It applies from 1 July 2015 to 30 June 2016. [CR 2016/24] [CR 2016/25] [LTN 84, 4/5/16]

Featherby v FCT – No grounds to re-open case to hear further submissions from taxpayer (exceptional circumstances, especially for submissions)

The Federal Court has dismissed a taxpayer’s application to re-open a hearing (for which judgment has been reserved) to take further submissions of the operation of s175 of the ITAA 1936 in relation to the dispute. In doing so, the Court acknowledged that while it had full power to rehear or review a case until…

Review of retirement income stream regulation – Government releases Review Report recommending that the current annual minimum drawdown requirements be continued but that other requirements be relaxed

On 3 may 2016, the Government released the final report of its Review of retirement income stream regulation, together with its response to the review, which was to accept all 7 recommendations. [LTN 84, 4/5/16] Government’s 2013 election and subsequent commitments The Government’s superannuation 2013 election commitments included reviewing: the regulatory barriers restricting the availability of relevant and…