The ATO Wed 2.4.2014 released the following Class Rulings:

  • CR 2014/34: Queensland Urban Utilities 2014 early retirement scheme. It applies from Wed 2.4.2014 to 31 December 2014. Broadly, the Ruling states that the early retirement scheme to be implemented by Queensland Urban Utilities is an early retirement scheme for the purposes of s 83-180 of the ITAA 1997.
  • CR 2014/35: Demutualisation of Transport Friendly Society Ltd. It applies from 1 July 2013 to 30 June 2016. Among other things, the Ruling states that any capital gain or loss made by a member upon demutualisation is disregarded under s 316-55 of the ITAA 1997.

[LTN 63, 2/4/14]