03 Jun 2021 ATO Rulings
- CR 2021/39 WPP AUNZ Ltd – scheme of arrangement, FY 2020 Total Dividend and Special Dividend
This Ruling sets out the income tax consequences of the ordinary and special dividends paid on 7 April, the Special Dividend paid on 7 May 2021 and the Scheme of Arrangement implemented by WPP AUNZ Ltd (WPP AUNZ) on 18 May 2021.
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 United Kingdom of Great Britain and Northern Ireland
Australia, the United Kingdom of Great Britain and Northern Ireland have entered into a Memorandum of Understanding to establish the mode of application of the arbitration process provided for in Part VI of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting.
This Memorandum of Understanding is entered into pursuant to Article 26 of the Convention between the Government of Australia and the Government of the United Kingdom of Great Britain and Northern Ireland for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital Gains, as modified by Article 16 of the Convention, and paragraph 10 of Article 19 of the Convention.
Proposed guidelines: Transition to strengthening client verification
The ATO is working towards a new standard of customer verification to be used by all tax professionals. You can provide feedback on the ATO’s proposed guidelines or comment on the TPB’s draft Practice Note TPB(PN) D45/2021 Proof of identity requirements for client verification until 10 June 2021.
The ATO is seeking your involvement in the following open consultations.
- Draft Goods and Services Tax Determination GSTD 2021/D2 Goods and services tax: is the supply of a burial right in respect of a public cemetery subject to GST? (Due date for comments: 25 June 2021)
- Draft Practical Compliance Guideline PCG 2021/D4 Intangibles Arrangements (Due date for comments: 16 July 2021).