The ATO Wed 20.2.2012 released the following Class Rulings:
- CR 2013/12: CGT: special dividend and capital proceeds from the sale of Norton Gold Fields Limited shares pursuant to off market takeover. It applies from 1 July 2012 to 30 June 2013. Among other things, the Ruling states that CGT event A1 happened when shareholders disposed of their shares and that the capital proceeds for the disposal of each share was $0.25.
- CR 2013/13: GST treatment of developer contributions and other dedications of land made to NSW councils. It applies from 1 July 2013. The Ruling outlines the GST treatment of developer contributions (whether monetary or in kind) or other dedications of land or infrastructure made to Councils in relation to the Council either granting or not granting a development consent.
- CR 2013/14: GST: goods and services supplied by dentists. It applies on or after 20 February 2013. The Ruling broadly states that the supply of dental services is GST-free under s 38-7(1) of the GST Act and the supply of goods in the course of supplying the GST-free services is also GST-free under s 38-7(3).
[LTN 34, 20/2/13]