Private ruling: Public company
Date of advice: 6 August 2025
Published: 13 October 2025
Ruling period: Income tax years ended 30 June 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 for the purposes of subsection 103A(1) of the ITAA1936? | A1: Yes

Relevant facts and circumstances: Company A is an unlisted public company with many shareholders and a significant amount of assets and profits. The company has a policy of distributing most of its annual profits to shareholders as dividends. The financial reports of Company A are prepared in accordance with the relevant Australian accounting standards. Company A's corporate governance is closely aligned to that of a listed public company. Company A is the head company of an income tax consolidated group.

Relevant legislative provisions: Income Tax Assessment Act 1936 subsection 103A(1) | Income Tax Assessment Act 1936 subparagraph 103A(2)(d)(v) | Income Tax Assessment Act 1936 subsection 103A(4) | 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.