Notice of Rulings 27 March 2024 (Cth)

Notice of Rulings 27 March 2024 The Commissioner of Taxation, Rob Heferen, 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 TD 2024/1 Fringe benefits tax: what are the rates to be applied on a cents per kilometre basis for calculating the taxable value of a fringe benefit arising from the private use of a motor vehicle other than a car for the fringe benefits tax year commencing 1 April 2024? This Determination sets the rates to be applied on a cents per kilometre basis for calculating the taxable value of a fringe benefit arising from the private use of a motor vehicle other than a car. This Determination applies to the FBT year commencing 1 April 2024. TD 2024/2 Fringe benefits tax: reasonable amounts under section 31G of the Fringe Benefits Tax Assessment Act 1986 for food and drink expenses incurred by empoyees receiving a living-away-from-home allowance fringe benefit for the fringe benefits tax year commencing 1 April 2024. This Determination sets out the amounts that the Commissioner considers reasonable, under section 31G of the Fringe Benefits Tax Assessment Act 1986, for food and drink expenses incurred by employees receiving a living-away-from-home allowance fringe benefit. This Determination applies to the FBT year commencing 1 April 2024. CR 2024/20 Symbio Holdings Limited – scrip for scrip roll-over and special dividend This Ruling sets out the income tax consequences for the holders of ordinary shares in Symbio Holdings Limited in relation to the payment of a special dividend and the acquisition of all the ordinary shares in Symbio Holdings Limited by Aussie Broadband Limited on 28 February 2024. This Ruling applies to specified shareholders from 1 July 2023 to 30 June 2024. CR 2024/21 The Ian Potter Cultural Trust – fellowships This Ruling sets out the income tax consequences of receiving the 'Ian Potter Creative Fellowship' or the 'Ian Potter Emerging Performer Fellowship'. This Ruling applies to fellowship recipients from 1 January 2024.