The ATO on Wed 11.6.2014, issued the following Class Rulings:
- CR 2014/47: Self purchasing of services for assessed treatment and care needs in the NSW Lifetime Care and Support Scheme. It applies from 25 June 2012. Broadly, the Ruling states that payments received by a participant in the scheme are not included in their assessable income under s 6-5 of the ITAA 1997.
- CR 2014/48: Treatment of transfer payments made to employees of Green State Power Pty Ltd. It applies from Wed 11.6.2014 to 30 June 2015. The Ruling states that the proposed transfer payments made in accordance with the scheme are made in consequences of the termination of employment.
[LTN 110, 11/6/14]