The ATO Wed 2.4.2014, released the following Product Rulings:
- PR 2014/5: Macquarie NRAS Trust. It applies to investors that enter into the scheme from Wed 2.4.2014 to 30 June 2017. The Ruling broadly states that an investor will be assessable under s 97(1)(a) of the ITAA 1936 on so much of that share of the net income of the trust estate to which the investor is presently entitled.
- PR 2014/6: Tax consequences for a Borrower under an Equities First Holdings loan. It applies to Borrowers that enter into the scheme from Wed 2.4.2014 until 30 June 2016. Among other things, the Ruling states that a transfer of the secured shares by the lender back to the borrower after the end of the security period will not give rise to a CGT event.
[LTN 63, 2/4/14]