The ATO on Wed 9.7.2014, issued the following Class Rulings:
- CR 2014/57: MYOB Group Pty Limited – Return of Capital. It applies from 1 January 2014 to 31 December 2014. Among other things, the Ruling states that the return of capital will not be a dividend as defined in s 6(1) of the ITAA 1936.
- CR 2014/58: Unitywater early retirement scheme 2014. It applies from Wed 9.7.2014 to 30 June 2015. 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 2014/59: APN European Retail Property Group – cancellation of units. It applies from 1 July 2013 to 30 June 2014. The Ruling broadly states that CGT event C2 happened in relation to each unit holder when their units were cancelled under the scheme, and the capital proceeds received are taken to be nil.
- CR 2014/60: Customers of Procon Telematics Pty Ltd who use the FleetLocate/Easy2log Vehicle Logbook Report for their log book records. It applies from 1 April 2014. The Ruling states that the vehicle logbook report as described in the Ruling will satisfy the definition of log book records in s 136(1) of the FBTAA provided that certain conditions are satisfied.
[LTN 130, 9/7/14]