The ATO on Wed 7.8.2013, issued the following Class Rulings:
- CR 2013/61: Scrip-for-scrip roll-over: acquisition of Diversified Utility and Energy Trust No 3 by Diversified Utility and Energy Trust No 2. It applies from 1 July 2013 to 30 June 2014. Broadly, the Ruling states that where a holder makes a capital gain on the disposal of their units, scrip-for-scrip rollover may be chosen to disregard the gain.
- CR 2013/62: Exchange of shares in DUET Management Company 1 Limited for shares in DUET Company Ltd. It applies from 1 July 2013 to 30 June 2014. The Ruling, among other things, states that CGT event A1 will occur as a result of the exchange of shares, however, eligible shareholders may choose rollover to disregard any gain or loss.
- CR 2013/63: Exchange of units in Diversified Utility and Energy Trust No 1 for shares in DUET Company Ltd. It applies from 1 July 2013 to 30 June 2014. Generally, the Ruling states that eligible shareholders may choose rollover to disregard any gain or loss as a result of the exchange of units.
- CR 2013/64: Allowable deductions: fees paid to Management Expertise Finance Pty Limited by a non-working partner in a pharmacy partnership under an Outsourcing Deed. It applies from 1 July 2013. The Ruling states that fees paid for the provision of services in the nature of outsourcing requirements may be deductible under s 8-1 of the ITAA 1997.
- CR 2013/65: Assessable income: Australian Agency for International Development employees deployed to the Solomon Islands to provide Official Development Assistance. It applies from 1 July 2013. Among other things, the Ruling states that subject to certain conditions, the salary and allowances derived by a Solomon Islands AusAID employee are exempt from tax under s 23AG of the ITAA 1936.
- CR 2013/66: FBT: employers who use the Navman Wireless Australia telematics system for car log book records and for odometer records. It applies from 1 April 2013. The Ruling states broadly that the telematics system satisfies the definition of log book records and odometer records under s 136(1) of the FBTAA.
[LTN 151, 7/8/13]