The ATO on Wed 1.2.2012, issued the following Class Rulings:
- Class Ruling CR 2012/6: Return of capital, acquisition of new interests and stapling of securities to form a new stapled security: Centro Australia Wholesale Fund;
- Class Ruling CR 2012/7: Return of capital, acquisition of new interests and stapling of securities to form a new stapled security: Centro DPF Holding Trust;
- Class Ruling CR 2012/8: Return of capital, acquisition of new interests and stapling of securities to form a new stapled security: Centro Retail Group; and
- Class Ruling CR 2012/9: Return of capital: Centro Properties Group.
The Rulings apply from 1 July 2011 to 30 June 2012. They broadly state that the returns of capital from the various entities to security holders of the units are not assessable income under s 99B of the ITAA 1936 or under s 6-5 of the ITAA 1997.
[LTN 20, 1/2]