Notice of Rulings 23 October 2024 (Cth)

Notice of Rulings 23 October 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 2024/66 Base Resources Limited – scrip for scrip roll-over and special dividend This Ruling sets out the income tax consequences for holders of ordinary shares in Base Resources Limited in relation to the payment of a special dividend of 6.5c on 1 October 2024 and the acquisition of all the ordinary shares in Base Resources by EFR Australia Pty Ltd on 2 October 2024. This Ruling applies to shareholders specified in the Ruling from 1 July 2024 to 30 June 2025. CR 2024/67 Royal Australian Navy – compensation for non-performance of training contract This Ruling sets out the income tax consequences of damages received from the Commonwealth to compensate for a lost opportunity, specifically arising from the non-performance of training contracts agreed to between the Royal Australian Navy (Navy) and members of the Marine Technician cohort referred to as MT2010. This Ruling applies to claimants specified in the Ruling to the income year in which compensation was received by claimants. CR 2024/68 Navman Wireless Australia Pty Limited – use of FTC Manager for fuel tax credits This Ruling sets out sets out when the Fleet Summary Report and GPS Data Report generated from the FTC Manager telematics and technology product can be used as a record (but not the only record) for record-keeping purposes for fuel tax credit purposes. This Ruling applies to taxable fuel acquired on or after 1 July 2024 to 30 June 2026. PR 2024/18 Navman Wireless Australia Pty Limited and FTC Manager – FTC Self Claim level clients This Ruling sets out the fuel tax credit consequences for fuel tax credit clients using the FTC Manager telematics and technology product provided by Navman Wireless Australia Pty Limited in conjunction with services provided by Fuel Tax Advisers Pty Ltd. This Ruling applies to taxable fuel acquired on or after 1 July 2024 by the class of entities that enter into the scheme for the fuel tax credit results from the FTC Manager Product from 1 July 2024 until 30 June 2026.