10 Sep 2020 ATO Rulings
- CR 2020/47: The Hans Pearson v State of Queensland: Applicant’s Settlement Distribution Scheme – distribution received from the settlement sum, published 9 September 2020.
- CR 2020/46: The University of Wollongong - early retirement scheme 2020, applies from 2 September 2020.
- PR 2020/4: Income tax: taxation consequences for a borrower being charged an ‘Indexed Rate’ of interest under a home loan, published 9 September 2020. Amends PR 2020/4 to reflect a change in the entity involved in the administration of the scheme.
- WTI 2020/D1: Draft Goods and Services Tax: Waiver of Tax Invoice Requirement (Corporate Card Statements) No. 2 Determination 2020, published 4 September 2020. Specifies when corporate cardholders can claim input tax credits without holding a tax invoice in certain circumstances
The draft determination:
- Replaces Goods and Services Tax: Waiver of Tax Invoice Requirement (Corporate Card Statements) Legislative Instrument 2020, F2020L00110 (the revoked instrument);
- Includes an additional corporate card provider entity and is substantially the same as the revoked instrument; and
- Applies retrospectively to tax periods that commence on or after 10 February 2020, i.e. the application date in the revoked instrument.
The closing date for comments is 2 October 2020.
- PS LA 2004/11: Treating a document as a tax invoice or adjustment note, published 3 September 2020.
Relates to the Commissioner's discretion to treat a document as a tax invoice or adjustment note under ss 29-70(1B) and 29-75(1) of the GST Act.