25 Mar 2021 ATO Rulings
- CR 2021/23 EML Payment Solutions Limited — use of a living expenses card facility to acquire a stored value prepaid card
- CR 2021/24 Uber Australia Pty Ltd — promotions received by employees under the Uber Rewards loyalty program and Uber for Business platform
- CR 2021/25 Blossomvale Holdings Ltd — return of capital
- PR 2021/1 Income tax: Challenger Guaranteed Annuity (Short Term)
- F2021L00278 Classes of Electronic Payment System Transactions Exempt From Being Reported in Third Party Reports Determination 2021
The ATO has issued legislative instrument F2021L00278, which applies to administrators of a payment system, within the meaning of the Payment Systems (Regulation) Act 1998.
An administrator of a payment system is not required to provide information to the Commissioner of Taxation under table item 9 in s 396-55 of Schedule 1 to the Taxation Administration Act 1953 (TAA) in relation to a transaction where:
- the transaction was initiated by another entity;
- the other entity is required to provide information to the Commissioner of Taxation in relation to the transaction under table item 9 in s 396-55 of Schedule 1 to the TAA; and
- if the transaction is processed before 1 July 2020, the administrator is an authorised deposit-taking institution, for the purposes of the Banking Act 1959.
Memorandum of Understanding
- Memorandum of Understanding on the Mode of Application on the Implementation of Part VI of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting between the competent authorities of Australia and the Kingdom of Belgium
Matters under consultation
The ATO is consulting with the community on the following new matters:
- Research and Development Tax Incentive for Software activities
- Identity theft and fraud experience
- Potential concerns/risks for loss carry back and temporary full expensing measures
You can view the full list of consultation matters here.