ATO documents

Taxation Rulings 

TR 2016/2: Income tax: taxation of financial arrangements - how section 230-120 of the Income Tax Assessment Act 1997 applies to the taxation of swaps under the accrual/realisation rules in Subdivision 230-B of that Act 

This ruling finalises draft taxation ruling TR 2015/D3 which was discussed in our Riposte here.

Class Rulings 

CR 2016/33: Income tax: off-market takeover of Sedgman Limited and payment of Interim and Special Dividends

Interpretative Decisions

ATO ID 2016/1: GST and registration turnover threshold for a body corporate

ATO Guidelines 

LCG 2016/1: GST and carrying on an enterprise in the indirect tax zone (Australia)

PAYG Variations and Notices 

TPAL 2016/1: Lodgment of income tax returns for the year of income ended 30 June 2016 in accordance with the Income Tax Assessment Act 1936 and the Taxation Administration Act 1953 - Department of Human Services - parents with a child support assessment 

TPAL 2016/2: Lodgment of returns for the year of income ended 30 June 2016 in accordance with the Income Tax Assessment Act 1936 , the Income Tax Assessment Act 1997 , the Taxation Administration Act 1953 , the Superannuation Industry (Supervision) Act 1993 and the Income Tax (Transitional Provisions) Act 1997

Tax Cases

Commissioner of Taxation v AP Energy Investments Pty Ltd [2016] FCA 577 (25 May 2016): The Federal Court upheld the AAT’s decision and confirmed that a foreign resident taxpayer was not liable for CGT in relation to the sale of shares in an Australian mining company. The Federal Court held that the valuation of mining information was appropriate for the purpose of determining that the shares were not indirect Australian real property interests.

Commissioner of Taxation v Seven Network Limited [2016] FCAFC 70 (23 May 2016): The Full Federal Court unanimously upheld the decision of the Federal Court and confirmed that payments made by Seven Network Limited to the IOC for broadcasting rights to the Olympic Games were not royalties under the Australia-Switzerland double tax agreement.

Progress of legislation

As at 27.05.16


Intro House

Passed House

Intro Senate

Passed Senate

Date of Royal assent / Act Number


Tax and Superannuation Laws Amendment (2016 Measures No 2) Bill 2016 - LAPSED






Remedial power for the Commissioner; Income tax averaging rules for farmers; luxury car tax; minor amendments correcting technical or drafting defects 

Superannuation Legislation Amendment (Choice of Fund) Bill 2016 - LAPSED






Extend superannuation choice of fund to employees covered by enterprise agreements and workplace determinations made from 1 July 2016.

Superannuation Legislation Amendment (Transparency Measures) Bill 2016 - LAPSED






Sets out disclosure rules for superannuation portfolio holdings and choice product dashboards

Tax Laws Amendment (Tax Incentives for Innovation) Bill 2016






Tax incentives for early stage innovation; amends early stage venture capital limited partnership (ESVCLP) and venture capital limited partnership (VCLP) regimes. 

Tax and Superannuation Laws Amendment (2016 Measures No. 1) Bill 2016 






GST treatment of digital services by overseas providers; GST rules to cross-border supplies that involve non-resident entities; Farm management deposits (FMDs) 

Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016 






Allows small businesses to change their entity structure without incurring a capital gains tax liability

Tax Laws Amendment (Implementation of the Common Reporting Standard) 2015






Implements the Common Reporting Standard for the automatic exchange of financial account information

Tax Laws Amendment (New Tax System for Managed Investment Trusts) Bill 2015 






New MIT System

Tax and Superannuation Laws Amendment (2015 Measures No 6) Bill 2015 






Amendments to the treatment of earnout arrangements and introduces a new collection mechanism.

Tax Laws Amendment (Combating Multinational Tax Avoidance) 2015






Implements a new multinational anti-avoidance law. Introduces stronger penalties for large companies that engage in tax avoidance and profit shifting. Introduces country-by-country reporting to give tax authorities greater visibility of multinationals' tax structures.

Superannuation Legislation Amendment (Trustee Governance) 2015 - LAPSED






Amends the Superannuation Industry (Supervision) Act 1993 to change the governance requirements for superannuation funds. 

Tax and Superannuation Laws Amendment (2015 Measures No. 3) Bill 2015 - LAPSED






Amongst other things, reduces the tax offsets under the research and development tax incentive.