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Notice of Rulings 24 February 2021

Authoritative Version
This instrument gives notice of public rulings Taxation Determination TD 2021/2 and Class Rulings CR 2021/15, CR 2021/16, CR 2021/17, CR 2021/18, CR 2021/19, CR 2021/20 and CR 2021/21. It also gives notice of addendum Taxation Determination TD 2020/8.
Administered by: Treasury
Registered 24 Feb 2021

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Notice of Rulings 24 February 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

 

NOTICE OF RULINGS

Ruling number

Subject

Brief description

TD 2021/2

Income tax:  can a company that carries on a business in a general sense as described in Taxation Ruling TR 2019/1 Income tax: when does a company carry on a business? but whose only activity is renting out an investment property claim the capital gains tax small business concessions in relation to that investment property?

This Determination confirms the Commissioner’s view that a company carrying on a business in a general sense but whose only activity is renting out an investment property cannot claim the capital gains tax small business concessions in Division 52 of the Income Tax Assessment Act 1997 in relation to that investment property.

This Determination applies both before and after its date of issue.

CR 2021/15

CU Health Pty Limited – exempt benefits relating to work-related medical examinations, medical screenings, preventative health care and counselling of employees

This Ruling sets out the fringe benefits tax consequences for employers who engage the services of CU Health Pty Limited to provide medical and allied healthcare services.

This Ruling applies from 1 April 2020 to 31 March 2025.

CR 2021/16

MiX Telematics Australasia Pty Ltd – use of Fleet Manager systems for car logbook and odometer records

This Ruling sets out when the MiX Telematics Australasia Pty Ltd Fleet Manager systems and the in-Vehicle Monitoring System can be used to reduce the operating costs in both a logbook and non-logbook year for the purpose of calculating the taxable value of a car fringe benefit using the cost basis method.

This Ruling applies from 1 April 2020 to 31 March 2025.

CR 2021/17

Shante Pty. Ltd. – use of an electronic travel smartcard for public bus transport by an employee

This Ruling sets out the tax consequences for employer clients of Shante Pty. Ltd. who provide their employees with an electronic travel smartcard for use on public bus transport.

This Ruling applies from 1 April 2020 to 31 March 2025.

CR 2021/18

Eton Irrigation Cooperative Ltd – receipt of membership

This Ruling sets out the income tax consequences for residents of Australia who received membership in Eton Irrigation Cooperative Ltd when the Eton Irrigation Scheme transitioned to a local management arrangement.

This Ruling applies from 1 July 2019 to 30 June 2021.

CR 2021/19

EQT Wholesale Flagship Fund – scrip for scrip roll-over

This Ruling sets out the tax consequences for holders of units in EQT Wholesale Flagship Fund in relation to the acquisition of those units by EQT Flagship Fund in exchange for units in EQT Flagship Fund.

This Ruling applies from 1 July 2020 to 30 June 2021.

CR 2021/20

Portfolio Plus Industrial Equities Fund – scrip for scrip roll-over

This Ruling sets out the tax consequences for holder of units in Portfolio Plus Industrial Equities Fund in relation to the acquisition of those units by EQT Flagship Fund in exchange for units in EQT Flagship Fund.

This Ruling applies from 1 July 2020 to 30 June 2021.

CR 2021/21

Equities Fund – scrip for scrip roll-over

This Ruling sets out the tax consequences for holders of units in Equities Fund in relation to the acquisition of those units by EQT Flagship Fund in exchange for units in EQT Flagship Fund.

This Ruling applies from 1 July 2020 to 30 June 2021.

 

NOTICE OF ADDENDUM

Ruling number

Subject

Brief description

TD 2020/8

Income tax and fringe benefits tax: treatment of allowances and benefits provided to Australian Government employees posted overseas

This Ruling has been amended to correct a statement made in the summary table which sets out the taxation treatment for location allowance.

This Addendum applies to years of income commencing both before and after its date of issue.