The ATO on Wed 27.11.2013, issued the following Class Rulings:
- CR 2013/91: Treatment of transfer payments to employees of Macquarie Generation following the sale of business to a private sector entity. It applies from Wed 27.11.2013 to 30 June 2014. The Ruling states that the proposed transfer payment made in accordance with the scheme described in the Ruling is in consequence of the termination of employment.
- CR 2013/92: The Toorak College early retirement scheme. It applies from Wed 27.11.2013 to 30 June 2014. Broadly, the Ruling states that the early retirement scheme to be implemented is an early retirement scheme for the purposes of s 83-180 of the ITAA 1997.
- CR 2013/93: National Australia Bank Limited – issue of convertible preference shares II. It applies from 17 December 2013 to 30 June 2023. The Ruling generally states that the holders of convertible preference shares must include all dividends received and ranking credits in their assessable income.
- CR 2013/94: CSG Limited – further return of capital. It applies from 19 November 2013 to 30 June 2014. Among other things, the Ruling states that the further return of capital to shareholders will not be a dividend as defined in s 6(1) of the ITAA 1936.
[LTN 230, 27/11/13]