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Notice of Rulings 13 April 2022

Authoritative Version
This instrument gives notice of public rulings Class Rulings CR 2022/37 and CR 2022/38. It also gives rise to notice of addenda Product Rulings PR 2020/3, PR 2020/6, PR 2020/13 and PR 2021/1.
Administered by: Treasury
Registered 13 Apr 2022

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Notice of Rulings 13 April 2022


The Acting Commissioner of Taxation, Jeremy Hirschhorn, 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

CR 2022/37

Commonwealth Bank of Australia – CommBank PERLS XIV Capital Notes

This Ruling sets out the income tax consequences for specified entities who subscribed for and acquired CommBank PERLS XIV Capital Notes issued by the Commonwealth Bank of Australia.

This Ruling applies from 1 July 2021 to 30 June 2032.

CR 2022/38

Australian Pharmaceutical Industries Ltd – scheme of arrangement, ordinary dividend and special dividend

This Ruling sets out the income tax consequences of the ordinary dividend and special dividend paid by Australian Pharmaceutical Industries Ltd on 15 December 2021 and 29 March 2022 respectively, and the scheme of arrangement whereby WFM Investments Pty Ltd acquired Australian Pharmaceutical Industries Ltd shares on 31 March 2022.

This Ruling applies from 1 July 2021 to 30 June 2022.

 

NOTICE OF ADDENDA

Ruling number

Subject

Brief description

PR 2020/3

Income tax:  Challenger Life Company Limited CarePlus Annuity and Insurance

This Ruling has been amended to reflect the repeal of the Income Tax Assessment Regulations 1997 and the commencement of the Income Tax Assessment (1997 Act) Regulations 2021.

This Addendum applies before and after its date of issue.

PR 2020/6

Income tax:  Challenger Guaranteed Annuity (Liquid Lifetime) – 2020

This Ruling has been amended to reflect the repeal of the Income Tax Assessment Regulations 1997 and the commencement of the Income Tax Assessment (1997 Act) Regulations 2021.

This Addendum applies before and after its date of issue.

 

Ruling number

Subject

Brief description

PR 2020/13

Income tax:  Challenger Guaranteed Annuity (Floating Rate Fixed Term)

This Ruling has been amended to reflect the repeal of the Income Tax Assessment Regulations 1997 and the commencement of the Income Tax Assessment (1997 Act) Regulations 2021.

This Addendum applies before and after its date of issue.

PR 2021/1

Income tax:  Challenger Guaranteed Annuity (Short Term)

This Ruling has been amended to reflect the repeal of the Income Tax Assessment Regulations 1997 and the commencement of the Income Tax Assessment (1997 Act) Regulations 2021.

This Addendum applies before and after its date of issue.