Two Class Rulings were issued on Wed 9.3.2016:
- CR 2016/12 (FBT: employers who are clients of United Airport Parking Pty Ltd and who enter into the Corporate Car Parking Agreement). The Class Ruling provides that a car benefit does not arise for FBT purposes while an employer’s car is parked at the United Airport Parking’s lock up car parking facility. It applies from 1 April 2015 to 31 March 2020; and
- CR 2016/13 (Income tax: return of capital by way of in specie distribution of shares in CYBG PLC by National Australia Bank Limited). The Class Ruling provides that the return of capital to NAB shareholders in relation to the demerger of CYBG PLC is not a dividend and the Commissioner will not apply the anti-streaming rules in ss 45A and 45B of the ITAA 1936. It applies to the 2015-16 income year.
[LTN 46, 9/3/16]