Australian Taxation Office

New or updated materials on ATO website, including:

  • Rulings scheduled to issue on Wednesday, including the withdrawal of TD 2014/21 regarding whether a right to acquire a beneficial interest in a share that is granted subject to shareholder approval is an 'indeterminate right' within the meaning of s83A-340(1) of the ITAA 1997
  • Updated: Public Rulings Program, as at 3 September 2015, includes the following:
    • new draft ruling on application of TOFA (Division 230) to swaps, scheduled to issue at the end of September 2015
    • new draft GST determination on GST-free adult and community education courses, scheduled to issue on 30 September 2015
    • final tax determination on transfers 'to' and 'from' the complying superannuation/FHSA pool or segregated exempt assets of a life insurance company, scheduled to issue on 23 September 2015 (previously issued as TD 2015/D6)
    • draft tax ruling TR 2014/D1 about employee remuneration trust arrangements is to be reissued as a new draft in 2016

Independent review of R&D Incentive

The Government has previously indicated that research and development (R&D), including the R&D Tax Incentive programme, is to be addressed as part of the Tax Reform White Paper process and in this respect, it has engaged the Centre for International Economics (CIE) to provide independent advice to the review of the R&D Tax Incentive programme (see Terms of Reference for the review).