Greenwoods & Freehills Weekly Tax Highlights 6.1.12

ATO documents

Draft Taxation Ruling
TR 2011/D8: Income tax: Section 254T of the Corporations Act and the assessment and franking of dividends paid from 28 June 2010

Draft Goods and Services Tax Determination
GSTD 2011/D5: Goods and services tax: Are acquisitions related to an entity's retail foreign currency exchange transactions with customers in Australia made solely for a creditable purpose under section 11-15 of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act)?  

Class Rulings
CR 2011/108: Income tax: Coal & Allied Industries Limited Scheme of Arrangement and payment of Interim Dividend and Special Dividend
CR 2011/109: Income tax: CSR Limited - CSR Universal Share Ownership Plan - Sale of Sucrogen Ltd and Return of Capital

Product Rulings
PR 2011/25: Income tax: deductibility of interest in relation to investment in units in the Macquarie Flexi 100 Trust issued on or before 30 June 2014 - full recourse borrowings 
 
Draft Addendum
GSTR 2002/2D: Goods and services tax: GST treatment of financial supplies and related supplies and acquisitions
Addenda
TR 2006/11: Income tax: Private Rulings  
GSTR 2003/8: Goods and services tax: supply of rights for use outside Australia - subsection 38-190(1), item 4, paragraph (a) and subsection 38-190(2) 

New Interpretative Decisions
ATO ID 2012/1: GST and brokerage services for foreign shares listed overseas
ATO ID 2012/2: Irish Universal Social Charge and Article 2 of the Irish Double Tax Agreement
ATO ID 2012/3: Amendment of Assessments: time limits for amending assessments for an individual and the application of Regulation 20 of the Income Tax Regulations 1936
ATO ID 2011/100: Assessable Income: gain made from the buying of Notes at a discount
ATO ID 2011/101: Capital Gains Tax: Division 149 majority underlying interests - no new shareholders
ATO ID 2011/102: Amendment of income tax assessment outside limited amendment period on an application for amendment by the taxpayer
ATO ID 2011/103: Storage licence and conditions that relate to the excisable goods stored
ATO ID 2011/104: Division 7A: Application of section 109T - where payment made by a private company to an interposed entity is a payment of an actual dividend
ATO ID 2011/105: GST: Reduced credit acquisition and the delivery and collection of cash from ATMs not located at ADI branch premises
ATO ID 2011/106: GST: Reduced credit acquisitions for delivery and collection of cash from ATMs located outside the operating area of an ADI
ATO ID 2011/107: Capital Gains Tax: Division 149 majority underlying interests - new shareholder
Withdrawn Interpretative Decisions
ATO ID 2010/24: Irish income levy and Article 2 of the Irish Agreement 
ATO ID 2002/1039: Capital gains tax: main residence - dependent children having different main residence 
ATO ID 2003/251: CGT Dairy industry deregulation: disposal of payment right - capital gain
ATO ID 2003/259: CGT: Bankruptcy - current year capital losses not disregarded
ATO ID 2003/272: CGT Main residence exemption: ownership interest - share in company

Decision Impact Statements 
DIS: The Taxpayer and Commissioner of Taxation 
DIS: Cannavo and Commissioner of Taxation
DIS: The Taxpayer and Commissioner of Taxation