The ATO on Wed 4.4.2012, issued the following Class Rulings:
- CR 2012/22: Demerger of Lyell Resources Limited by Bondi Mining Limited. It applies from 1 July 2011 to 30 June 2012. The Ruling broadly states that eligible shareholders will be able to choose CGT rollover relief under s125-55(1) of the ITAA 1997 in relation to the demerger.
- CR 2012/23: Assessable income: football umpires: Victorian Amateur Football Association. It applies from 1 July 2011. Among other things, the Ruling states that match fees and allowances paid to umpires are not assessable income under s6-5 or s15-2 of the ITAA 1997.
[LTN 65, 4/4]