The ATO on Wed 9.5.2012, issued the following Class Rulings:
- : FBT and income tax: employer contributions to the WA Construction Industry Redundancy (No 2) Fund. It applies from 1 April 2011. The Ruling broadly states that the payment of an employer CR 2012/28contribution to the Redundancy Fund pursuant to an “industrial instrument” will be an exempt benefit under s 58PA of the FBTAA subject to certain conditions.
- CR 2012/29: PAYG withholding: payments made by local government bodies in Queensland for the transfer of long service leave entitlements to other local government bodies and to Queensland government agencies. It applies from 1 July 2011 to 30 June 2015. The Ruling broadly states that the payment of accrued unused long service leave entitlements by a former employer to a new employer is not subject to PAYG withholding.
- CR 2012/30: Early retirement scheme – Ambulance Victoria. It applies from the date of the Commissioner’s approval to 31 December 2012. The Ruling broadly states that the early retirement scheme to be implemented by Ambulance Victoria is an early retirement scheme for the purposes of s 83-180 of the ITAA 1997.
- CR 2012/31: Australian Government Sport Training Grant Scheme payments provided by Australian Sports Commission. It applies from 1 July 2005 to 30 June 2010. The Ruling broadly states that payments received under the scheme are not assessable income for the purposes of s 6-5 or 6-10 of the ITAA 1997.
[LTN 88, 9/5]