The ATO on Wed 27.2.2013, released the following Class Rulings:
- CR 2013/15: Leighton Holdings Limited Equity Incentive Plan. It applies from 1 January 2012. Broadly, the Ruling states that the rights acquired under the incentive plan are indeterminate rights for the purposes of s 83A-340 of the ITAA 1997 and will be treated as rights to acquire a beneficial interest in shares form the time the rights were acquired.
- CR 2013/16: Department of Communities and Social Inclusion (South Australia) Individualised Funding Program. It applies from 1 January 2013. Among other things, the Ruling states that the payments received under the program are not ordinary income and do not form part of a participant’s assessable income under s 6-5 of the ITAA 1997.
[LTN 39, 27/2/13]