New or updated materials on ATO website, including:

  • Large business update: Introducing the new Advance Pricing Arrangement/Mutual Agreement Procedure (APA/MAP) program management unit that was introduced late last year
  • Updated! Rulings program, as at 11 March 2015, includes the following updates:
    • draft tax determination on whether Forex Realisation Event 4 occurs on repayment of a loan taken out prior to a functional currency election and denominated in the currency that later becomes the applicable functional currency, due to be issued in May 2015 (this will replace previously withdrawn TD 2014/D10)
    • draft tax ruling on income tax matters relating to bodies corporate constituted under strata title legislation, due to be issued on 25 March 2015
    • final tax determination on the application of s974-80(1)(d) of the Income Tax Assessment Act 1997 where a company has issued a debt interest to a listed property trust within the same stapled property group (previously issued as TD 2014/D20), due to be issued on 15 April 2015
    • final GST ruling on the meaning of the terms 'passed on' and 'reimburse' for the purposes of Division 142 of the GST Act (issued in draft as GSTR 2014/D4), due to be issued on 25 March 2015
  • Updated! Practice Statement Law Administration program, as at 11 March 2015, includes the following update:
    • practice statement in relation to the administration of transfer pricing penalties for income years starting before 1 July 2013 has been delayed
  • Updated! Matters under consultation with the ATO, including updates on various consultation issues

The ATO has advised that two final tax determinations on application of the debt-equity over-ride rule in s974-80 of the Income Tax Assessment Act 1997 (issued in draft as TD 2014/D18 and TD 2014/D19) will be issued next Wednesday. This listing is not yet available on the ATO website.