The ATO on Wed 31.7.2013, released the following Class Rulings:
- CR 2013/56: Treatment of transfer payments to employees of NSW Roads & Maritime Services following the outsourcing of road maintenance operations to a private operator. It applies from Wed 31.7.2013 to 30 June 2015. Broadly, the Ruling states that the proposed transfer payment is in consequence of the termination of employment.
- CR 2013/57: Return of share capital: Ridley Corporation Ltd. It applies from 3 July 2013 to 30 June 2014. The Ruling generally states that the return of share capital payment made to shareholders will not be a dividend as defined in s 6(1) of the ITAA 1936.
- CR 2013/58: Scrip-for-scrip: exchange of options in Bathurst Resources Limited for options in NZ NewCo. It applies from 1 July 2012 to 30 June 2014. Among other things, the Ruling states that an option holder who made a capital gain from the disposal of their options is eligible to choose scrip-for-scrip rollover under s124-780 of the ITAA 1997 to disregard the gain.
- CR 2013/59: Australian Government Direct Athlete Support Scheme payments provided by the Australian Sports Commission. It applies from 1 July 2010. The Ruling broadly states that payments received under the scheme are not assessable income for the purposes of ss 6-5 or 6-10 of the ITAA 1997.
- CR 2013/60: exchange of performance rights in Bathurst Resources Limited for performance rights in NZ NewCo. It applies from 1 July 2012 to 30 June 2014. The Ruling, among other things, states that the replacement of performance rights under the proposed restructure will be treated as a continuation of the Employee Share Scheme interest under s 83A-130 of the ITAA 1997.
[LTN 146, 31/7/13]