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

First Home Super Saver Tax Bill 2017

Description

Part of Government Housing Affordability Package.

Status

Act No. 133 of 2017

Bill

Treasury Laws Amendment (Housing Tax Integrity) Bill 2017

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

Superannuation (Objective) Bill 2016

Description

Superannuation reform package.

Status

Introduced into Senate 23.11.16.