The ATO on Wed 15.8.2012, released the following Class Rulings:
- CR 2012/57: Off-market share buy-back: European Gas Limited. It applies from 1 July 2012 to 30 June 2013. Broadly, the Ruling states the distribution from the off-market share buy-back to shareholders is not a dividend under s 159GZZZP of the ITAA 1936.
- CR 2012/58: 2012-14 Qantas Long-term Incentive Plan. It applies from 1 July 2011 to 30 June 2015. Among other things, the Ruling states that the rights acquired by participants in the long-term incentive plan are at real risk of forfeiture and consequently Subdiv 83A-C will apply to the ESS interests.
- CR 2012/59: 2011/12 Qantas Short-Term Incentive Plan. It applies from 1 July 2011 to 30 June 2015. Among other things, the Ruling states that the rights acquired by participants under the plan are at real risk of forfeiture and consequently Subdiv 83A-C will apply to the ESS interests.
- CR 2012/60: 2011/12 Qantas Manager Incentive Plan. It applies from 1 July 2011 to 30 June 2015. Among other things, the Ruling states that the rights acquired by participants under the plan are at real risk of forfeiture and consequently Subdiv 83A-C will apply to the ESS interests.
- CR 2012/61: Spotless Group Limited Scheme of Arrangement and payment of Special Dividend. It applies from 1 July 2012 to 30 June 2013. The Ruling broadly states that the special dividend will constitute a dividend as defined in s 6(1) of the ITAA 1936.
[LTN 157, 15/8]