Document ID: chunk:federal_register_of_legislation:F2021N00261:body:0:p1
Version: federal_register_of_legislation:F2021N00261
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Character Range: 0–5116

Notice of Rulings 13 October 2021
The Commissioner of Taxation, Chris Jordan, gives notice by notifiable instrument under subsection 358-5(4) of Schedule 1 to the Taxation Administration Act 1953 of the following public rulings, copies of which can be obtained from ato.gov.au/law

NOTICE OF RULINGS
Ruling number      Subject                                                                                                                                          Brief description
TD 2021/7          Income tax:  aggregated turnover – calculating the annual turnover of a connected entity or affiliate with a different accounting period to you  This Ruling supports entities in calculating their aggregated turnover for an income year where the accounting period of entities connected with them, or that are their affiliates, are not aligned.
                                                                                                                                                                    This Ruling applies both before and after its date of issue.
CR 2021/67         Primewest (HICT) Pty Ltd – return of capital                                                                                                     This Ruling sets out the income tax consequences for Primewest (HICT) Pty Ltd shareholders who received a return of capital from Home Investment Consortium Trust on 8 January 2021.
                                                                                                                                                                    This Ruling applies from 1 July 2020 to 30 June 2021.
CR 2021/68         FAR Ltd – return of capital                                                                                                                      This Ruling sets out the income tax consequences for FAR Ltd shareholders who received a return of capital payment on 28 September 2021.
                                                                                                                                                                    This Ruling applies from 1 July 2021 to 30 June 2022.
CR 2021/69         Latitude Group Holdings Limited – Latitude Capital Notes                                                                                         This Ruling sets out the income tax consequences for entities who subscribed for and acquired Latitude Capital Notes issued by Latitude Group Holdings Limited.
                                                                                                                                                                    This Ruling applies from 1 July 2021 to 30 June 2027.

NOTICE OF ADDENDA
Ruling number      Subject                                                                                                                                                                                                                                                                                                                           Brief description
TD 93/131          Income tax:  Offshore Banking Units – does the OBU concessional tax regime apply to assessable income derived after 30 June 1992 where the OB activities were entered into by an OBU prior to 1 July 1992?                                                                                                                        This Ruling is amended to reflect that the Offshore Banking Unit (OBU) regime is closed to new entrants from 14 September 2021. The concessional tax treatment for existing OBUs in respect of offshore activities will be removed effective from the 2023–24 income year.
                                                                                                                                                                                                                                                                                                                                                     This Addendum applies from 13 September 2021.
TD 93/132          Income tax:  Offshore Banking Units – if an entity is registered as an OBU and that entity conducts both offshore banking activities and domestic banking activities, can the OBU trade in foreign currency with the domestic part of the bank (the 'domestic part')?                                                             This Ruling is amended to reflect that the Offshore Banking Unit (OBU) regime is closed to new entrants from 14 September 2021. The concessional tax treatment for existing OBUs in respect of offshore activities will be removed effective from the 2023–24 income year.
                                                                                                                                                                                                                                                                                                                                                     This Addendum applies from 13 September 2021.
TD 93/133          Income tax:  Offshore Banking Units