Notice of Rulings 9 December 2020 (Cth)

Notice of Rulings 9 December 2020

The Commissioner of Taxation, Chris Jordan, gives notice by notifiable instrument under subsection 358-5(4) of Schedule 1 to the Taxation Administration Act 1953 of the following public rulings, copies of which can be obtained from ato.gov.au/law

NOTICE OF RULINGS Ruling number Subject Brief description TR 2020/5 Income tax: application of section 6CA of the Income Tax Assessment Act 1936 and Australia's tax treaties and the payer's withholding obligations This Ruling sets out our view on the definition of 'natural resource income', whether income from real property articles in Australia's tax treaties grant Australia taxing rights in respect of natural resource income, and the withholding obligations that relate to natural resource income payments. This Ruling applies both before and after its date of issue. CR 2020/64 Challenger Limited – Challenger Capital Notes 3 This Ruling sets out the income tax consequences for Australian-resident investors who acquire Challenger Capital Notes 3. This Ruling applies from 1 July 2020 to 30 June 2030. CR 2020/74 Iluka Resources Limited – demerger of Deterra Royalties Limited This Ruling sets out the income tax consequences of the demerger of Deterra Royalties Limited by Iluka Resources Limited on 2 November 2020. This Ruling applies from 1 July 2020 to 30 June 2021. PR 2020/12 Income tax: taxation consequences for a customer entering into a Farm Supplies Prepayment Program with Elders Rural Services Australia Limited This Ruling sets out the tax consequences for customers who enter into a Farm Supplies Prepayment Program with Elders Rural Services Limited Australia. This Ruling applies from 1 July 2020, to entities that enter into the scheme from 1 July 2020 to 30 June 2023.