Greenwoods & Freehills Weekly Tax Highlights 8.7.11

ATO Documents

Released 6.7.11

Class Rulings
CR 2011/67: Income tax: proposed return of capital: eServGlobal Limited
Addenda 
TR 2002/8: Income tax: assessability of payments received from strike funds
TR 2005/10: Income tax: consolidation: retained cost base assets consisting of Australian currency or a right to receive a specified amount of such currency 
TD 2006/59: Income tax: consolidation: subsidiary in liquidation: are unsatisfied debts of a subsidiary at the time of deregistration, being debts owed to creditors outside of the consolidated group, accounting liabilities for the purposes of subsection 711-45(1) of the Income Tax Assessment Act 1997?
Notices of Withdrawal
TD 2002/19: Income tax: can a private company be taken to have paid a dividend under section 109D of the Income Tax Assessment Act 1936 ('the Act') in respect of a loan taken to have been made by the operation of section 109UB of the Act where the loan is made to another company?
GSTA TPP 096: Goods and services tax: Is there an increasing adjustment under Division 138 of the GST Act if an entity carrying on a farming business undertakes improvements to its farm land and subsequently cancels its GST registration?

Released 7.7.11

PAYG Variations and Notices
TPAL 2011/1: Lodgment of returns for the year of income ended 30 June 2011 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 Dated this 20th day of June 2011 

Released 10.7.11

The Government has released details of the Carbon Pricing regime. Details of the proposed changes can be found at http://www.cleanenergyfuture.gov.au/. The details of the changes are contained in the document "Securing a clean energy future". Greenwoods & Freehills has releasd a tax brief analysing the measures.

As At 8.7.11