The ATO on Wed 10.10.2012, issued the following Class Rulings:
- : Class Ruling CR 2012/86FBT: employer clients of Baptist Financial Services Australia who are subject to the provisions of s 57, s 57A or s 65J of the FBTAA and who make use of the BFS Visa Prepaid PayCard facility. It applies from 1 April 2011. Among other things, the Ruling states that a payment by the cardholder for goods and services will not give rise to an expense payment benefit for the purposes of s 20 of the FBTAA.
- Class Ruling CR 2012/87: Early retirement scheme – Centennial Park Cemetery Authority. It applies from the date of Commissioner’s approval to 30 June 2013. Broadly, the Ruling states that the early retirement scheme to be implemented is an early retirement scheme for the purposes of s 83-180 of the ITAA 1997.
- Class Ruling CR 2012/88: Little World Beverages Limited Scheme of Arrangement and Special Dividend. It applies from 1 July 2012 to 30 June 2013. The Ruling broadly states that the special dividend paid to shareholders of Little World Beverages constitutes a special dividend under s 6(1) of the ITAA 1997 and is assessable income.
- Class Ruling CR 2012/89: Parks Victoria Voluntary Departure Program 2012-13 Early Retirement Scheme. It applies from 10 October 2012 to 30 June 2013. The Ruling, among other things, states that the early retirement scheme to be implemented is an early retirement scheme for the purposes of s 83-180 of the ITAA 1997.
[LTN 196, 10/10]