Notice of Rulings 13 January 2021
The Commissioner of Taxation, Chris Jordan, gives notice by notifiable instrument under subsection 358-5(4) of Schedule 1 to the Taxation Administration Act 1953 of the following public rulings, copies of which can be obtained from ato.gov.au/law
LCR 2021/1
OECD hybrid mismatch rules – targeted integrity rule
This Ruling provides legislative guidance and greater certainty to taxpayers on whether their arrangements could be subject to the targeted integrity rule contained in Subdivision 832-J of the Income Tax Assessment Act 1997.
This Ruling applies from 1 January 2019.
TD 2021/1
Income tax: value of goods taken from stock for private use for the 2020–21 income year
This Ruling provides an update of amounts that the Commissioner will accept as estimates of the value of goods taken from trading stock for private use by taxpayers in named industries.
This Ruling applies to the 2020–21 income year.
CR 2021/1
Bank of Queensland Limited – BOQ Capital Notes 2
This Ruling sets out how the relevant tax provisions apply to specified entities who subscribed for and acquired BOQ Capital Notes 2 issued by Bank of Queensland Limited.
This Ruling applies from 1 July 2020 to 30 June 2029.
CR 2021/2
Home Consortium Group – return of capital by way of in specie distribution
This Ruling sets out the income tax consequences for stapled securityholders of the Home Consortium Group who received a return of capital by way of in specie distribution from Home Consortium Limited on 26 November 2020.
This Ruling applies from 1 July 2020 to 30 June 2021.