The ATO Wed 24.10.2012 issued the following Class Rulings:
- : Deductibility of CR 2012/94employer contributions to the Australian Construction Industry Redundancy Trust. It applies from 1 July 2012 to 30 June 2018. Broadly, the Ruling states that an employer who makes contributions to the trust can claim a deduction under s 8-1 of the ITAA 1997 for the amount of the contribution.
- CR 2012/95: Department of Health and Human Services (Tasmania) Self-Directed Funding by direct payments. It applies from 1 July 2012. The Ruling states, among other things, that funds received from the Department does not form part of the recipient’s assessable income under s 6-5 of the ITAA 1997.
- CR 2012/96: Bendigo and Adelaide Bank Limited – allotment of convertible preference shares (CPS). It applies from Wed 24.10.2012 to 30 June 2020. Among other things, the Ruling outlines the acquisition date and cost base of the convertible preference shares issued.
- CR 2012/97: Google Inc. 2004 Stock Plan: Australian Resident Employees. It applies from 1 July 2012 to 30 June 2017. The Ruling broadly states that a participant who is granted Google stock units under the 2004 stock plan acquires an employee share scheme interest in terms of s 83A-10(1) of the ITAA 1997 and that no amount will be included in the assessable income of the participant until the deferred taxing point occurs.
[LTN 206, 24/10]