ATO needs transformational change and cultural shifts: review [41]

The Australian Public Service Commission has released the findings of its “capability review” of the ATO highlighting opportunities for improvement. The review highlighted various strengths of the agency, but noted that the ATO needs to undergo “transformational change”. The Commission said the taxpayer community will demand greater access to improved services in a digital world,…

CR 2013/99-103 – Return of capital; early retirement schemes; new head company [35]

The ATO on Wed 18.12.2013, released the following Class Rulings: CR 2013/99: Village Roadshow Limited – return of capital. It applies from 1 July 2013 to 30 June 2014. The Ruling broadly states that the return of capital to shareholders is not a dividend as defined in s 6(1) of the ITAA 1936. CR 2013/100: University of Tasmania 2014 early retirement…

CR 2013/95-96 – Disposal of shares; early retirement scheme [33]

The ATO on Wed 4.12.2013, issued the following Class Rulings: CR 2013/95: The Trust Company Limited Scheme of Arrangement and Special Dividend. It applies from 7 May 2013 to 30 June 2014. The Ruling broadly states that CGT event A1 happens as a result of the disposal of shares by shareholders, however, eligible shareholders may choose a partial scrip-for-scrip rollover. CR…