Private ruling: Public company
Date of advice: 16 May 2023
Published: 3 July 2023
Ruling period: 1 July 20XX to 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner form an opinion under subsection 103A(5) of the Income Tax Assessment Act 1936 (ITAA 1936) that it is reasonable that Company A should be treated as a public company? | A1: Yes.

Relevant facts and circumstances: Company A is a company incorporated in Australia. The majority of the shares in Company A are owned (through interposed entities) by an entity listed on a stock exchange. Company A engages in substantial business activities.

Relevant legislative provisions: Income Tax Assessment Act 1936 subsection 103A(1) | Income Tax Assessment Act 1936 subsection 103A(2) | Income Tax Assessment Act 1936 subsection 103A(4) | Income Tax Assessment Act 1936 subsection 103A(4B) | Income Tax Assessment Act 1936 subsection 103A(5)

Reasons for decision: Summary: Considering the specific circumstances of Company A, the Commissioner is of the opinion that it is reasonable that Company A should be treated as a public company for the purposes of subsection 103A(1) of the ITAA 1936. Therefore, Company A will be deemed to be a public company pursuant to subsection 103A(5) of the ITAA 1936.