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Tax Rulings, Determinations & Interpretative Decisions - 22 March 2012

Thursday 22 March, 2012

The following rulings and determinations have recently been released:

PS LA 3541 (draft)	GST classification of food and beverage items
TA 2012/1	Non disclosure of foreign source income by Australian tax residents

The following taxation rulings and determinations have recently been withdrawn:

TD 96/43W

Income tax: where a taxpayer carries on a business of primary production on a property remote from their usual place of residence and employment/business, is a deduction automatically allowable for travel between:
(1) the usual place of work and the property; or
(2) the usual place of residence and the property?

The following Interpretive Decisions (IDs) have recently been released:

ATO ID 2012/16	Superannuation Excess Contributions Tax: concessional contributions - allocation of contributions
ATO ID 2012/17	Capital Allowances: project pools - project - transport capital expenditure
ATO ID 2012/18	Exempt benefits: reimbursement of parking fees - remote area employees

The following Interpretive Decisions (IDs) have recently been withdrawn:

ATO ID 2003/342	Capital Gains Tax: trust to company rollover - capital loss made by unit trust on expiry of a lease during the trust restructuring period
ATO ID 2003/362	Capital gains tax: scrip for scrip roll-over - choice not to apply roll-over to all interests exchanged
ATO ID 2003/452	Capital Gains Tax: Status of pre-CGT asset owned by demerged entity
ATO ID 2003/497	CGT - Demutualisation of a foreign mutual entity