Product Ruling PR 2018/2W
Status: withdrawn








Withdrawal notice: Product Ruling PR 2018/2 is withdrawn with effect from today. 1. Product Ruling PR 2018/2 sets out the Commissioner's view on the income tax consequences for the defined class of entities, referred to as Holders, that acquire Instalment Receipts under a Macquarie Equity Lever facility (Facility) offered by Macquarie Bank Limited (the Bank). 2. The Bank entered into a Portfolio Asset Novation Agreement with Bell Potter Capital Limited (BPC) pursuant to which the Bank has agreed to novate to BPC (or a Related Body Corporate of BPC) all of the right, title, interest and benefit of a Macquarie Group Member under or in connection with each Facility entered into with a Holder, as at 1 July 2019. In conjunction with that novation, the Bank has ceased to offer Instalment Receipts under a Facility as at 1 July 2019. 3. PR 2018/2 continues to apply to Holders that acquired Instalment Receipts under a Facility on or after 29 September 2017 and on or prior to 30 June 2019 and otherwise fall within the defined class of entities to which PR 2018/2 relates. Commissioner of Taxation 17 July 2019 © AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

Related rulings: TR 95/33
Legislative references: ITAA 1936 ITAA 1936 44(1) ITAA 1936 51(1) ITAA 1936 51AAA ITAA 1936 82KL ITAA 1936 Pt III Div 3 Subdiv H ITAA 1936 82KZL(1) ITAA 1936 82KZL(2)(a) ITAA 1936 82KZM ITAA 1936 82KZMA ITAA 1936 82KZMD ITAA 1936 82KZME ITAA 1936 82KZME(3) ITAA 1936 82KZME(3)(a) ITAA 1936 82KZME(4) ITAA 1936 82KZME(5) ITAA 1936 82KZME(6) ITAA 1936 82KZME(8) ITAA 1936 82KZME(9) ITAA 1936 82KZMF ITAA 1936 97(1)(a) ITAA 1936 Pt IIIAA Div 1A ITAA 1936 Pt IVA ITAA 1997 ITAA 1997 8-1 ITAA 1997 Div 104 ITAA 1997 104-10 ITAA 1997 104-25 ITAA 1997 104-25(1)(c) ITAA 1997 104-25(3) ITAA 1997 109-5 ITAA 1997 110-25 ITAA 1997 110-45(3) ITAA 1997 110-55 ITAA 1997 110-55(6) ITAA 1997 Div 115 ITAA 1997 115-5 ITAA 1997 134-1(1) ITAA 1997 134-1(4) ITAA 1997 Div 207 ITAA 1997 Div 230 ITAA 1997 Div 235 ITAA 1997 235-815(2) ITAA 1997 235-820 ITAA 1997 235-820(1) ITAA 1997 235-820(2) ITAA 1997 235-825(1)(a) ITAA 1997 235-830 ITAA 1997 235-835 ITAA 1997 235-835(1)(b) ITAA 1997 Div 245 ITAA 1997 245-10 ITAA 1997 245-35(a) ITAA 1997 245-60 ITAA 1997 245-65 ITAA 1997 245-75(2) ITAA 1997 Div 247 ITAA 1997 247-15(5)(b) ITAA 1997 247-20 ITAA 1997 247-20(3) ITAA 1997 247-20(4) ITAA 1997 247-20(5) ITAA 1997 247-20(5A) ITAA 1997 247-20(6) ITAA 1997 247-30(2) ITAA 1997 Subdiv 328-C ITAA 1997 328-110 SISA 1993 TAA 1953