The ATO on Wed 5.6.2013, released the following Class Rulings:
- CR 2013/33: Treatment of transfer payments to employees of Eraring Energy following the sale of business to a private sector entity. It applies from Wed 5.6.2013 to 30 June 2014. Broadly, the Ruling states that the proposed transfer payment is in consequence of the termination of employment.
- CR 2013/34: Business restructure and proposed capital distribution: News Corporation. It applies from 1 June 2013 to 30 June 2014. Among other things, the Ruling states that the proposed in specie distribution is not a dividend as defined under former s 6(1) of the ITAA 1936.
- CR 2013/35: R&D incentive: membership funding for the ACA Low Emissions Technology Program. It applies from 1 July 2011 to 30 June 2017. The Ruling broadly states that for the 2012 to 2017 income years contributors will be entitled to a tax offset in accordance with s 355-100 to the extent that a contributor pays levies that amount to id=”mce_marker”,000 or more, are for R&D activities as defined in s 355-20, and represent expenditure arising under s 355-205.
- CR 2013/36: FBT: employer clients of the Commonwealth Bank of Australia who are subject to the provisions of s 57A of the FBTAA [PBI’s, Public Hospitals, Public Ambulance services etc.] and who make use of the Bank’s prepaid Employee Benefits Card facility. It applies from 1 April 2013. The Ruling, among other things, states that the use of the card will give rise to various types of benefits that may include tax-exempt body entertainment benefits under s 38, property benefits under s 40 and residual benefits under s 45.
- CR 2013/37: Demerger of Duketon Mining Limited by South Boulder Mines Ltd. It applies from 1 July 2012 to 30 June 2013. Generally, the Ruling indicates that shareholders are able to choose demerger roll-over relief under s 125-55(1) of the ITAA 1997 to disregard the capital gain made when CGT event G1 occurred to their shares under the demerger.
- CR 2013/38: Parks Victoria Voluntary Departure Program 2012-13/2013-14 Early Retirement Scheme. It applies from Wed 5.6.2013 to 30 June 2014. Broadly, the Ruling states that the scheme to be implemented under the second round by Parks Victoria is an early retirement scheme for the purposes of s 83-180 of the ITAA 1997.
- CR 2013/39: The GST treatment of fees and charges imposed by NSW councils in relation to water, sewerage and drainage supplies. It applies from 1 July 2013. The Ruling addresses the GST treatment of supplies made by Councils in relation to the provision of water, sewerage, and drainage for which particular fees and charges are imposed.
[LTN 107, 5/6/13]