Greenwoods & Freehills Weekly Tax Highlights 10.2.12

ATO documents

Class Rulings
CR 2012/10: Income tax: bonus share plan: Australian Foundation Investment Company Limited  

Erratum
CR 2011/109: Income tax: CSR Limited - CSR Universal Share Ownership Plan - Sale of Sucrogen Ltd and Return of Capital

Withdrawn  Practice Statements
PS LA 2006/12: Thin Capitalisation - Australian equivalents to International Financial Reporting Standards ('AIFRS') - Transitional Provision to provide guidance on certain practical issues arising where a taxpayer chooses under section 820-45 of the Income Tax (Transitional Provisions) Act 1997 to use Australian accounting standards as they existed on 31 December 2004 to calculate their thin capitalisation position ? 

Withdrawn Interpretative Decisions
ATO ID 2008/129:  Excise: Fuel Tax Act and fuel standards

Qantas Airways Limited v Commissioner of Taxation [2011] FCAFC 113 (1 September 2011): The Commissioner has been granted special leave to appeal to the High Court. The Full Federal Court unanimously upheld an appeal by Qantas against the AAT’s decision that there is a supply for GST purposes when a passenger cancels their booking or does not show for the flight and the fare is not refunded.

The Government's mining tax bills and related legislation has been introduced into the Senate. Debate on the bills has been adjourned.

As at 10.2.12