The ATO has announced that a practice statement will be released around July 2018 to address the administration of the Commissioner’s discretion to reduce the minimum annual distribution rate for both public and private ancillary funds.

This practice statement is intended to provide guidance to ATO staff on the process to be followed when considering whether or not to exercise the discretion afforded under the amended Private Ancillary Fund Guidelines 2009 and the Public Ancillary Fund Guidelines 2011.