Notice of Rulings 25 September 2024 (Cth)

Notice of Rulings 25 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 2024/60 NPR Trust No. 1 and NPR Trust No. 4 – scrip for scrip roll-over This Ruling sets out the income tax consequences for the Australian-resident unitholders of NPR Trust No. 1 and NPR Trust No. 4 , which were stapled under Newmark Property REIT, who exchanged their units for units in the BWP Trust by way of an off-market takeover pursuant to Part 6.5 of the Corporations Act 2001. This Ruling applies to unitholders specified in the Ruling from 1 July 2023 to 30 June 2024. TD 2024/7 Income tax: deductions for financial advice fees paid by individuals who are not carrying on an investment business This Determination sets out when an individual may be entitled to a deduction under sections 8-1 or 25-5 of the Income Tax Assessment Act 1997 for fees paid for 'financial advice'. It outlines the requirements that need to be satisfied for an individual to claim a deduction for financial advice fees. This Determination applies to arrangements both before and after its date of issue.