Notice of Rulings 17 July 2024 (Cth)

Notice of Rulings 17 July 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 2024/5 Income tax: how the non-arm's length income and capital gains tax provisions interact to determine the amount of statutory income that is non-arm's length income This Determination outlines our views as to how the non-arm's length income and capital gains tax provisions interact in determining the amount of statutory income that is non-arm's length where a capital gain arises as a result of non-arm's length dealings. This Determination applies to years of income commencing both before and after its date of issue. CR 2024/44 Pharmx Technologies Limited – return of capital This Ruling sets out the income tax consequences for shareholders of Pharmx Technologies Limited who received the return of share capital payment of 75 cents per ordinary share held on 4 December 2023. This Ruling applies to shareholders specified in the Ruling from 1 July 2023 to 30 June 2024.