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Notice of Rulings 10 August 2022

Authoritative Version
This instrument gives notice of public rulings CR 2022/72, CR 2022/73, TD 2011/15, TD 2015/20, TR 2015/4 and TD 2022/10.
Administered by: Treasury
Registered 10 Aug 2022

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Notice of Rulings 10 August 2022

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

CR 2022/72

Qantas Airways Limited – Executive Recovery Retention Plan

This Ruling sets out the income tax consequences for employees of Qantas Airways Limited and its subsidiaries who participate in the Executive Recovery Retention Plan.

This Ruling applies from 1 July 2021 to 30 June 2024.

CR 2022/73

Qantas Airways Limited – Employee Recovery Retention Plan

This Ruling sets out the income tax consequences for employees of Qantas Airways Limited and its subsidiaries who participate in the Employee Recovery Retention Plan.

This Ruling applies from 1 July 2021 to 30 June 2024.

 

NOTICE OF ADDENDA

Ruling number

Subject

Brief description

TD 2011/15

Income tax:  Division 7A – unpaid present entitlements – factors the Commissioner will take into account in determining the amount of any deemed entitlement arising under section 109XI of the Income Tax Assessment Act 1936

This Ruling has been amended to reflect the publication of Taxation Determination TD 2022/11 Income tax:  Division 7A:  when will an unpaid present entitlement or amount held on sub-trust become the provision of 'financial accommodation'? and the associated withdrawals of Taxation Ruling TR 2010/3 Income tax:  Division 7A loans: trust entitlements and Law Administration Practice Statement PS LA 2010/4 Division 7A:  trust entitlements.

This Addendum applies from 13 July 2022.

TD 2015/20

Income tax:  Division 7A:  is a release by a private company of its unpaid present entitlement a ‘payment’ within the meaning of Division 7A of Part III of the Income Tax Assessment Act 1936?

This Ruling has been amended to reflect the publication of Taxation Determination TD 2022/11 Income tax:  Division 7A:  when will an unpaid present entitlement or amount held on sub-trust become the provision of 'financial accommodation'? and the associated withdrawals of Taxation Ruling TR 2010/3 Income tax:  Division 7A loans: trust entitlements and Law Administration Practice Statement PS LA 2010/4 Division 7A:  trust entitlements.

This Addendum applies from 13 July 2022.

TR 2015/4

Income tax:  CGT small business concessions:  unpaid present entitlements and the maximum net asset value test

This Ruling has been amended to reflect the publication of Taxation Determination TD 2022/11 Income tax:  Division 7A:  when will an unpaid present entitlement or amount held on sub-trust become the provision of 'financial accommodation'? and the associated withdrawals of Taxation Ruling TR 2010/3 Income tax:  Division 7A loans: trust entitlements and Law Administration Practice Statement PS LA 2010/4 Division 7A:  trust entitlements.

This Addendum applies from 13 July 2022.

 

NOTICE OF ERRATUM

Ruling number

Subject

Brief description

TD 2022/10

Income tax:  what are the reasonable travel and overtime meal allowance expense amounts for the 2022–23 income year?

This Ruling has been amended to correct a calculation.

This Erratum applies from 29 June 2022.