Notice of Rulings 4 September 2024 (Cth)

Notice of Rulings 4 September 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 CR 2024/53 University of Melbourne – loans from public and private ancillary funds This Ruling sets out our opinion on the way the provisions listed in this Ruling apply to the defined class of entities who take part in a public ancillary fund loan or a private ancillary fund loan with the University of Melbourne. This Ruling applies applies from 1 July 2024 to 30 September 2025. The Ruling continues to apply after 30 September 2025 to entities who entered into a public ancillary fund loan or a private ancillary fund loan with the University or public or private ancillary funds that become a lender to the University after 30 September 2025 under an assignment or transfer of rights under a public ancillary fund loan or a private ancillary fund loan. CR 2024/54 EML Payment Solutions Limited – use of living expenses card facility to acquire a stored value prepaid card This Ruling sets out the fringe benefits tax consequences for employers who take part in the scheme by EML Payment Solutions Limited whereby participating employees use the Living Expenses Card facility to acquire a Stored Value Prepaid Card. This Ruling applies to employers specified in the Ruling from 1 April 2024 to 31 March 2029. CR 2024/55 Millennium Services Group Limited – scrip for scrip roll-over This Ruling sets out the income tax consequences for former shareholders of Millennium Services Group Limited who disposed of their ordinary shares in Millennium to MS Journey Pty Ltd in exchange for shares in MXS Ventures Pte. Ltd. on 3 May 2024. This Ruling applies to shareholders specified in the Ruling from 1 July 2023 to 30 June 2024. PR 2024/14 Carly Car Subscription Agreement This Ruling sets out the fringe benefits tax and income tax consequences for entities that execute a Subscription Agreement offered by Carly Car Subscription Pty Ltd pursuant to which a Vehicle is subscribed for from a Fleet Owner. This Ruling applies to customers specified in the Ruling, that enter into the scheme described in the Ruling between 1 July 2024 and 30 June 2027, from 1 July 2024. PR 2024/15 AG Warehouse Pty Ltd – June Prepayment Discount Scheme This Ruling sets out the income tax consequences for entities that participate as a customer in the AG Warehouse June Prepayment Discount Scheme (the Program) offered by AG Warehouse Pty Ltd (AG Warehouse). This Ruling applies to customers specified in the Ruling, that enter into the scheme described in the Ruling between 1 July 2024 and 30 June 2027, from 1 July 2024.