Private ruling: Loan facility agreement

Ruling: What this ruling is about: | In order to protect the privacy and commercial in-confidence components of this private binding ruling the following summary is provided. | The taxpayer entered into a loan facility agreement. | The Commissioner ruled that: | · Certain amounts received by the taxpayer will not be assessable to the taxpayer | · Certain amounts received by the parties to the loan facility agreement will not be assessable to the taxpayer under section 6-5 of the Income Tax Assessment Act 1997 (ITAA 1997) or other relevant statutory income provisions | · Division 230 of the ITAA 1997 will not apply to this loan facility agreement; and | · Part IVA of the Income Tax Assessment Act 1936 will not apply to the arrangement.




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