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25 Mar 2021 ATO Rulings
Class 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
Product Ruling
- PR 2021/1 Income tax: Challenger Guaranteed Annuity (Short Term)
Legislative Instrument
- 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
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.