*SIC and GIC rates for Apr-Jun 2014 quarter – base rate of 2.63% plus 3 and 7 basis points respectively – so the GIC is 9.63% pa [62]

The Tax Office has advised that the General Interest Charge (GIC) and Shortfall Interest Charge (SIC) rates for the 4th quarter of the 2013-14 financial year (ie 1 April 2014 to 30 June 2014) are as follows: GIC annual rate is 9.63%; GIC daily compounding rate is 0.02638356%; SIC annual rate is 5.63%; and SIC daily compounding rate is…

CR 2014/28-33 – Stapled security; Government payments; executive plan; return of capital; early retirement [59]

The ATO on Wed 19.3.2014, released the following Class Rulings: CR 2014/28: GDI Property Group – creating a new stapled security. It applies from 1 July 2013 to 30 June 2014. Broadly, the Ruling states that Australian resident unitholders are able to choose scrip-for-scrip rollover on the disposal and replacement of their units. CR 2014/29: Government funded payments made…

CR 2014/24-25 – CGT scrip-for-scrip roll-over; return of capital [56]

The ATO Wed 5.3.2014, released the following Class Rulings: CR 2014/24: Scrip-for-scrip: exchange of securities in Atlassian Corporation Pty Limited for securities in Atlassian Corporation PLC. It applies from 1 July 2013 to 30 June 2014. Among other things, the Ruling states that subject to certain qualifications, shareholders who make a capital gain from the disposal of their shares…