CR 2013/40-46: Early retirement scheme; GST; equity notes; FBT; restructure; disability support; capital notes [47]

The ATO on Wed 12.6.2013, issued the following Class Rulings: CR 2013/40: Early retirement scheme for Barwon Region Water Corporation. It applies from Wed 12.6.2013 to 1 October 2014. Broadly, the Ruling states that the early retirement scheme to be implemented by Barwon Water is an early retirement scheme for the purposes of s 83-180 of the ITAA…

Hua Wang Bank Berhad challenge on notice to produce from Samoa and Picton Finance on share trading in Vanuatu [40]

The ATO on Mon 24.6.2013, issued Decision Impact Statements on the following judgments: Hua Wang Bank Berhad v FCT [2013] FCAFC 28 – This Decision Impact Statement outlines the ATO’s response in this case in which the Full Federal Court refused a taxpayer’s appeal from an earlier decision refusing to grant relief from a notice…

*Sent case – ATO agrees that the Taxpayer’s income included both accrued and un-accrued bonuses applied to executive share trusts [36]

The ATO on Mon 3.6.2013, issued a Decision Impact Statement on the Full Federal Court decision in Sent v FCT [2012] FCAFC 187. In that case, the Full Federal Court dismissed the taxpayer’s appeal and held that the full amount of accrued and unaccrued bonus entitlements of id=”mce_marker”1.6m that were instead paid into an executive…