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Public Advice and Guidance Issue List

The following documents are scheduled to issue in the week commencing 23 July 2018.

Taxation determination
Class ruling
Draft update

Taxation determination

TD 2018/14 Income tax: what is the benchmark interest rate applicable for the year of income that commenced on 1 July 2018 for the purposes of Division 7A of Part III of the Income Tax Assessment Act 1936 and how is it used?
The Taxation Determination advises the benchmark interest rate for the 2018-19 income year for the purposes of sections 109N and 109E of the Income Tax Assessment Act 1936. The benchmark interest rate for 2018-19 is 5.20% pa.
Publication date 25 July 2018


Class ruling

CR 2018/33 Income tax: LifeHealthcare Group Limited - Scheme of Arrangement and payment of Interim Dividend and Special Dividend
Publication date 25 July 2018



CR 2018/31 Income tax: sale of Westfield Group stapled securities to Unibail-Rodamco SE - capital gains consequences
Publication date 25 July 2018



CR 2013/15 Income tax: Leighton Holdings Limited Equity Incentive Plan
Withdrawn with effect from 25 July 2018.
Publication date 25 July 2018


Practical compliance guideline

PCG 2018/D5 Enterprise Tax Plan: small business company tax rate change: compliance and administrative approaches for the 2015-16, 2016-17 and 2017-18 income years
This re-released draft Practical Compliance Guideline extends the application of and replaces draft PCG 2017/D7. The draft PCG aims to address any uncertainty that may have arisen because of:

  • changes to the tax laws, and proposed changes that are still before Parliament, concerning eligibility for a reduced company tax rate, and
  • the timing of release of a draft Taxation Ruling (TR 2017/D7) dealing with 'carrying on a business'.

The draft Guideline describes the approaches that will be applied by the Commissioner to assist affected corporate tax entities in the 2015-16, 2016-17 and 2017-18 income years as applicable:
  • A facilitative compliance approach to the 'carrying on business' test for corporate tax rate purposes in transition to the new eligibility rules for the lower rate, applicable in the 2015-16 and 2016-17 income years.
  • A practical administration approach that allows corporate tax entities to choose a simplified method to inform members in writing of any modified franking credit to which they are entitled, applicable in the 2015-16, 2016-17 and 2017-18 income years.

Publication date 25 July 2018


Please note that this list is subject to change.

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