The ATO on Wed 3.7.2013, released the following Class Rulings:
- CR 2013/48: Exchange of shares in Bathurst Resources Limited for shares in NZ NewCo. It applies from 1 July 2012 to 30 June 2014. Broadly, the Ruling states that participating shareholders will be eligible to choose roll-over relief in relation to the exchange of shares to disregard any capital gain or loss made on the disposal.
- CR 2013/49: Mirvac Group – capital reallocation. It applies from 1 July 2012 to 30 June 2013. The Ruling, among other things, states that the distribution of trust capital per unit will not be included in the assessable income of the security holder under s 6-5 of the ITAA 1997 or pursuant to Div 6 Pt III of the ITAA 1936.
- CR 2013/50: Ausgrid – Early Retirement Scheme. It applies from Wed 3.7.2013 to 31 December 2014. The Ruling states that the scheme to be implemented is an early retirement scheme for the purposes of s 83-180 of the ITAA 1997.
[LTN 126, 3/7/13]