The Tax Office on Wed 3.10.2012, released the following Class Rulings:
- : FBT: employer contributions to the Class Ruling CR 2012/84Australian Construction Industry Redundancy Trust (ACIRT). The ATO says contributions made by employers to ACIRT under the terms of the Building and Construction General On-site Award 2010 will be exempt benefits under s 58PA of the FBT Assessment Act. The Ruling replaces Class Ruling CR 2008/83, which applied to contributions made to ACIRT during the period from 1 April 2008 to the date of its withdrawal on 31 March 2012. DATE OF EFFECT: The Ruling applies from 1 April 2012 to 31 March 2017. It continues to apply after 31 March 2017 to all entities within the specified class who entered into the specified scheme during the term of the Ruling.
- Class Ruling CR 2012/85: Early retirement scheme – OneSteel Wire Pty Limited. The Ruling says the early retirement scheme to be implemented by OneSteel Pty Limited (OST Wire) is an early retirement scheme for the purposes of s 83-180 of the ITAA 1997. DATE OF EFFECT: The Ruling applies from the date of the Commissioner’s approval to 31 December 2012. It continues to apply after 31 December 2012 to all entities within the specified class who entered into the specified scheme during the term of the Ruling.
[LTN 192, 4/10]