Business Services Industry
[601] Rugby League official's assessable income; scrip-for-scrip roll-over.
Australasian Business Intelligence, April, 2007
Byline: Lisa Mak
Apr 18, 2007 (Weekly Tax Bulletin - ABIX via COMTEX) -- The Australian Taxation Office issued Class Rulings 2007/24 and 25 on 4 April 2007. The former states that payments made to rugby league officials belonging to the Western Australian Rugby League Referees Association are not deemed to be assessable income under sections 6-5 or 6-10 of the Income Tax Assessment Act 1997, and takes effect as from 1 January 2006. CR 2007/25 outlines the ATO's stance on Promina shareholders who receive shares in Suncorp in exchange for their own under the scrip-for-scrip roll-over merger between the two insurance firms.
Publication Date: 5 April 2007
AUSTRALIAN TAXATION OFFICE
WESTERN AUSTRALIAN RUGBY LEAGUE LIMITED
PROMINA GROUP...
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