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Commonwealthof Australia Gazette

Published by the Commonwealth of Australia GOVERNMENT NOTICES

COMMISSIONER OF TAXATION

The Commissioner of Taxation, Chris Jordan, gives notice of the following Rulings, copies of which can be obtained fromBranches of the Australian Taxation Office or athttp://law.ato.gov.au.

NOTICE OF RULINGS

RulingNumber

Subject Brief Description

TD 2015/12 Fringe benefits tax: when are the dutiesof the employment of an employee ofan employer who is a government bodyexclusively performed in, or inconnection with, a public hospital or ahospital carried on by a society or

association that is a rebatableemployer?

The Determination sets out theCommissioners position on Fringe BenefitsTax for government body employers andemployees.

The Determination applies to years of

income commencing both before and afterits date of issue.

TR 2015/2 Income tax: effective life ofdepreciating assets (applicable from 1July 2015)

The Ruling sets out the Commissionersposition on the effective life of depreciatingassets for the 2015-16 income year.

The Ruling applies from 1 July 2015.

CR 2015/41 Income tax: return of capital: GWAGroup Limited

The Ruling sets out the Commissionersposition for holders of ordinary shares inGWA Group Limited.

The Ruling applies from 1 July 2014 to

30 June 2015.CR 2015/42 Income tax: returns of capital: IPE

LimitedThe Ruling sets out the Commissioners

position for holders of ordinary shares in

IPE Limited.

The Ruling applies from 1 July 2014 to 30

June 2015.

CR 2015/43 Income tax: Bendigo and AdelaideBank Limitedallotment of convertiblepreference shares 3

The Ruling sets out the Commissioners

position for investors who acquired

Convertible Preference Shares 3 in Bendigo

and Adelaide Bank Limited.

The Ruling applies from 1 July 2014 to

30 June 2024.

PR 2015/8 Income tax: tax consequences for aNominee Investor in the AustralianSecurities Property Fund

The Ruling sets out the Commissioners

position for those that invest in the

Australian Securities Property Fund offered

by Australian Securities Limited.

The Product Ruling applies prospectively

from 1 July 2014.

Government Notices Gazette C2015G00991 24/06/2015

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NOTICE OF ADDENDUM

RulingNumber

Subject Brief Description

MT 2009/1 Miscellaneous taxes: notification

requirements for an entity under

section 105-55 of Schedule 1 to theTaxation Administration Act 1953

The Addendum amends Miscellaneous

Taxation Ruling MT 2009/1 to reflect the

recent decision of the AdministrativeAppeals Tribunal in North Sydney

Developments Pty Ltd v. Federal

Commissioner of Taxation[2014] AATA 363

in relation to notification requirements under

section 105-55 in Schedule 1 to the

Taxation Administration Act 1953.

The Addendum applies on and from the

date of issue.

NOTICE OF WITHDRAWAL

RulingNumber

Subject Brief Description

TR 2014/4 Income tax: effective life ofdepreciating assets (applicable from 1July 2014)

Taxation Ruling TR 2014/4 is withdrawnwith effect from 1 July 2015.

NOTICE OF PARTIAL WITHDRAWAL

Ruling

Number Subject Brief Description

TR 2014/7 Income tax: foreign currency hedgingtransactions - applying the foreignincome tax offset limit under section770-75 of the Income Tax AssessmentAct 1997and determining the source of

foreign currency hedging gains

The Partial Withdrawal updates TR 2014/7to remove the references to how the sourceof a foreign currency hedging gain isdetermined. The Commissioners view isthat, while source is always a practicalmatter of fact, the place where the hedgecontract is formed is likely to be the mostimportant factor in determining source forsuch gains. Subject to express or impliedterms to the contrary, the place where thecontract is formed will be the place where

the acceptance is communicated to.Industry has advised the Commissioner thatthe administrative approach set out inparagraphs 13 and 14 of the original rulinghas been understood as being aninterpretative view, rather than analternative administrative approach, andhas raised a number of concerns in relationto the administrative approach. As aconsequence, the parts of the Rulingaddressing source have been removed.Further industry consultation on thealternative administrative approach is being

conducted.

The Partial Withdrawal applies on and from1 July 2015.

Government Notices Gazette C2015G00991 24/06/2015