Monthly Archives: August 2016

CR 2016/51 – Scheme of Arrangement in which Unity Mining Limited returned capital to shareholders and Unity’s biggest shareholder bought the remaining Unity shares

On Wed 13.7.2016, the ATO issued the following Class Ruling: CR 2016/51: Return of Capital and Scheme of Arrangement – Unity Mining Limited. It applies from 1 July 2015 to 30 June 2016. Extract from ruling Ruling Return of capital is not a dividend 30. The ROC paid by Unity to the Unity Scheme Shareholders is not a dividend as defined in…

CR 2016/51: Scheme of Arrangement under which Unity Mining Limited returned capital to its shareholders and the largest shareholder bought the balance of the Unity shares

The ATO today [Wed 13.7.2016] issued the following Class Ruling: CR 2016/51: Return of Capital and Scheme of Arrangement – Unity Mining Limited. It applies from 1 July 2015 to 30 June 2016. Extract from ruling Ruling Return of capital is not a dividend 30. The ROC paid by Unity to the Unity Scheme Shareholders is not a dividend as…

CR 2016/50 – AMP Capital Community Infrastructure Fund – tax effect of a Div 6C ‘trading trust’ making a capital distribution and compulsorily reinvested into the stapled ‘non-trading’ trust

On Wed 13.7.2016, the ATO issued the following Class Ruling: CR 2016/50: AMP Capital Community Infrastructure Fund – capital reallocation. It applies from 1 July 2015 to 30 June 2016. Extract from Class Ruling Class of entities 3. The class of entities to which this Ruling applies is the unit holders of the AMP Capital Community Infrastructure Trading Trust (TT)…

LCG 2016/3 – Small Business Restructure Rollover – ATO guidance on meaning of ‘genuine restructure of an ongoing business’ (including various examples)

On Wednesday Wed 13.7.2016, the ATO released the following Law Companion Guideline: LCG 2016/3: Small Business Restructure Roll over: genuine restructure of an ongoing business and related matters. It explains the meaning of the term “genuine restructure of an ongoing business” in Subdiv 328-G of the ITAA 1997. Extract from ATO’s Law Guideline What this Guideline is about 1.…

LCG 2016/2 – Small Business Restructure Rollover – ATO guide on the tax consequence of this rollover (by way of various examples)

On Wed 13.7.2016, the ATO released the following Law Companion Guideline: LCG 2016/2: Small Business Restructure Roll over: consequences of a roll over. It explains the tax consequences and adjustments that occur when the transferor and transferee choose to apply the small business restructure rollover (‘SB Restructure Rollover‘) in Subdiv 328-G of the ITAA 1997. Extract from Subdiv…