What does an ATO ID mean in law?

An ATO interpretative decision (ATO ID) is an edited version of a decision we have made on an interpretative matter and gives an indication of how we might apply a provision of the law. We produce ATO IDs to help us apply the law consistently and accurately.

When does ATO advice and guidance come out?

ATO advice and guidance scheduled to issue in the week commencing 19 July 2021. Wording within authorised version annotation for Rulings changed to include additional descriptive text A record of changes we’ve made to the Legal database, including those we’re working on, is available.

Is the ITAA 1936 qualified by subsection 99B ( 2 )?

However, subsection 99B (1) of the ITAA 1936 is qualified by subsection 99B (2) of the ITAA 1936 which broadly reduces the amount included in the assessable income of the beneficiary to the extent that it represents:

When is income from remuneration arrangement assessed under ITAA 1997?

Income from the remuneration arrangement between the local government council and the councillor would normally be assessable under section 6-5 of the ITAA 1997 when it is received by the councillor. It may be taken to have been received under subsection 6-5 (4) of the ITAA 1997 where it is otherwise dealt with on behalf of the councillor.

When do the new ATO regulations come into effect?

The changes apply from 1 July 2002, unless a choice to apply the changes from 10 February 2010 is made, within the prescribed time, by the head company of the group.

When does subdivision 719-ba of the ITAA apply?

Note: Under Subdivision 719-BA of the ITAA 1997, when a MEC group comes into existence because of a special conversion event, provisions in Part 3-90 of the ITAA 1997 that ordinarily apply when an entity joins a MEC group will not apply.