ATO documents
CR 2017/84: Income tax: off-market share buy-back: Rio Tinto Limited
CR 2017/85: Income tax: demerger of Clime Private Ltd by Clime Investment Management Limited
CR 2017/86: Income tax: The National Pharmacies Early Retirement Scheme 2017
CR 2017/87: Income tax: Suncorp Group Limited: Suncorp Group Limited Capital Notes 2
CR 2017/88: Income tax: scrip for scrip: exchange of Kore Potash shares, options and performance rights for Kore UK CDIs, options and performance rights
CR 2017/89: Income tax: return of capital: IWIF Holdings Limited (IWIFH)
TR 2017/D10: Income tax: Trust vesting - amending the vesting date and consequences of a trust vesting
Draft Ruling Update
TR 2002/14DAC3: Income tax: taxation of retirement village operators
Taxation Determinations
TD 2017/23: Income tax: does the residency assumption in subsection 95(1) of the Income Tax Assessment Act 1936 (ITAA 1936) apply for the purpose of section 855-10 of the Income Tax Assessment Act 1997 (ITAA 1997), which disregards certain capital gains of a trust which is a foreign trust for CGT purposes?
TD 2017/24: Income tax: where an amount included in a beneficiary's assessable income under subsection 99B(1) of the Income Tax Assessment Act 1936 (ITAA 1936) had its origins in a capital gain from non-taxable Australian property of a foreign trust, can the beneficiary offset capital losses or a carry-forward net capital loss ('capital loss offset') or access the CGT discount in relation to the amount?
Draft Taxation Determinations
TD 2017/D4: Income tax: deductibility of interest expenses incurred by a beneficiary of a discretionary trust on borrowings on-lent interest free to the trustee
Addendum - Miscellaneous tax rulings
MT 2012/1A1: Miscellaneous taxes: application of the income tax and GST laws to immediate transfer farm-out arrangements
MT 2012/2A2: Miscellaneous taxes: application of the income tax and GST laws to deferred transfer farm-out arrangements
Notice of Withdrawal - Taxation Rulings
IT 2385W: Income tax: expenses incurred by beneficiaries of discretionary trusts
Progress of legislation
As at 15.12.17
Parliament resumes on 5 February 2018.
| Bill | Treasury Laws Amendment (Junior Minerals Exploration Incentive) Bill 2017 |
| Description | Replaces the former Exploration Development Incentive with the Junior Mineral Exploration Tax Credit. |
| Status | Introduced into House of Reps 19.10.17. |
| Bill | Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2017 |
| Description | Clarifies that certain corporate tax entities will not qualify for the lower corporate tax rate if, broadly, more than 80 per cent of their assessable income is income of a passive nature. |
| Status | Introduced into House of Reps 18.10.17. |
| Bill | Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Bill 2017 |
| Description | Part of Government Housing Affordability Package. |
| Status | Act No. 132 of 2017 |
| Bill | |
| Description | Part of Government Housing Affordability Package. |
| Status | Act No. 133 of 2017 |
| Bill | |
| Description | Part of Government Housing Affordability Package. |
| Status | Act No. 126 of 2017. |
| Bill | Foreign Acquisitions and Takeovers Fees Imposition Amendment (Vacancy Fees) Bill 2017 |
| Description | Part of Government Housing Affordability Package. |
| Status | Act No. 127 of 2017. |
| Bill | Medicare Levy Amendment (National Disability Insurance Scheme Funding) Bill 2017 |
| Description | Fund the NDIS by amending the Medicare Levy Act 1986 to increase the Medicare levy rate from 2 to 2.5% of taxable income for the 2019-20 income year and later income years. |
| Status | Introduced into the Senate 13.11.17. |
| Bill | Treasury Laws Amendment (Enterprise Tax Plan No. 2) Bill 2017 |
| Description | Extends the reduction of the corporate tax rate to 25 per cent by 2026/27 to businesses with turnover of more than $50 million. |
| Status | Introduced into House of Reps 11.5.17. |
| Bill | Treasury Laws Amendment (2017 Enterprise Incentives No. 1) Bill 2017 |
| Description | Similar business test; Effective life assessment on intellectual property. |
| Status | Introduced into Senate 22.6.17. |
| Bill | |
| Description | Superannuation reform package. |
| Status | Introduced into Senate 23.11.16. |
