The ATO on Wed 14.3.2012, issued the following Class Rulings:
- CR 2012/15: Return of capital – UXC Limited. It applies from 1 July 2011 to 30 June 2012. The Ruling broadly states that the return of capital to UXC shareholders is not a dividend as defined in s 6(1) of the ITAA 1936.
- CR 2012/16: Assessable income: Australian Federal Police (AFP) personnel deployed to the Republic of South Sudan as part of the United Nations peacekeeping force. It applies from 9 July 2011. Among other things, the Ruling states that the salaries and allowances received by employees of the AFP are exempt from tax under s 23AG of the ITAA 1936 in certain circumstances.
- CR 2012/17: Demerger of MPG Printing Limited by McPherson’s Limited. It applies from 1 July 2011 to 30 June 2012. The Ruling broadly states that CGT event G1 happened in relation to each McPherson’s share owned by a shareholder at the time of the payment reduction amount under the demerger.
[LTN 50, 14/3]