The ATO on Wed 22.8.2012, released the following Class Rulings:
- CR 2012/62: Depreciating asset: small business and general business tax break: BB Australia Pty Ltd. It applies from 1 July 2009 to 30 June 2010. Among other things, the Ruling states that each DVD, blu-ray disc or HD-DVD acquired by the franchisees is a depreciating asset for the purposes of para 41-10(1)(a) of the ITAA 1997.
- CR 2012/63: Depreciating asset: small business and general business tax break: Video Ezy Australasia. It applies from 1 July 2009 to 30 June 2010. Broadly, the Ruling states that the DVDs, Blu-ray discs and HD-DVDs acquired during the relevant period are not a “substantially identical” group for the purposes of para 41-10(4)(b)(ii) of the ITAA 1997.
- CR 2012/64: Scrip-for-scrip: Restructure of the Strathearn Group. It applies from 1 July 2012 to 30 June 2013. The Ruling broadly states that eligible unitholders who make a capital gain from the disposal of a unit are eligible to choose scrip-for-scrip roll-over under s 124-781 of the ITAA 1997.
[LTN 162, 22/8]