The ATO on Wed 5.10.2016, released Product Ruling PR 2016/8 (Tax consequences of investing in Wellington Management Funds (Luxembourg)). It applies to Australian residents who are accepted to participate in the scheme on or after 1 July 2016 and on or before 30 June 2019. [LTN 192, 5/10/16] Extract from ruling Ruling Subject to paragraph 3 of this Product…
The ATO, on Wed 5.10.2016, issued the following Class Rulings: CR 2016/68: Australia and New Zealand Banking Group Limited – ANZ Capital Notes 4. It applies from 1 July 2016 to 30 June 2027. CR 2016/69: The scheme of arrangement – merger of Royal Automobile Club of Queensland Limited and QT Mutual Bank Limited. It applies from 1 July 2016 to…
The Full Federal Court has, on Wed 5.10.2016, allowed a taxpayer’s appeal after ruling that the AAT erred by taking too narrow a view of what may constitute “special circumstances” under s292-465 of the ITAA 1997. The taxpayer and his wife had panicked during the GFC and withdrawn their superannuation nest egg to the safety of term…