TFN application process simplified by partnership with Australia Post (with its 460 retail outlets) [39]

The ATO on Thur 23.1.2014, announced that red tape around Tax File Number (TFN) applications has been removed following a partnership between the ATO and Australia Post. TFN applications are now simpler and easier, as they can now be applied for online at http://www.ato.gov.au/TFNapply and verified at more than 460 Australia Post retail outlets throughout…

CR 2014/10-14 – Share consolidation; demerger; SMS donations; employee equity plan [34]

The ATO on Wed 29.1.2.014, issued the following Class Rulings: CR 2014/10: Share consolidation and in specie distribution: Macquarie Group Limited. It applies from 1 July 2013 to 30 June 2014. Broadly, the Ruling states that the dividend component of the distribution must be included in the assessable income of the shareholder. CR 2014/11: Demerger of Orora Limited by…

CR 2014/6-9 – GST fees by councils; dental benefits; demerger; capital reallocation [33]

The ATO on Wed 22.1.2014, released the following Class Rulings: CR 2014/6: The GST treatment of fees and charges imposed by NSW Councils in relation to matters involving administration, animals, approvals/permits, health, impounding and pest control. It applies from 1 July 2013 to all entities who entered into the scheme as described during the term of the…

PR 2014/1 – National rental affordability scheme joint venture offsets etc. [31]

The ATO on Wed 15.1.2014, issued Product Ruling PR 2014/1 (The tax consequences of entering into a Non-Entity Joint Venture Agreement with Tremplin Limited relating to participation in the National Rental Affordability Scheme (NRAS)). It applies to entities that enter into the scheme from Wed 15.1.2014 to 30 June 2016. The Ruling states that investor entities will be…