Non-Profit News Service No. 0278 - Class Ruling released: Keno commission received by registered NSW Clubs

On 24 March 2010, the Australian Tax Office (ATO) released Class Ruling CR 2010/9 Income Tax: Assessable income - Keno commission received by registered NSW Clubs. The ruling says the commission received by a registered NSW Club from the gross subscription paid by a member of that registered club under the arrangements described in the ruling, is assessable income of the club pursuant to section 6-5 of the Income Tax Assessment Act 1997.

The ruling applies to NSW clubs which are not income tax exempt and which receive commissions paid by members of their club under the arrangements for the conduct of Keno in NSW Clubs as described in the ruling.

The ruling applies from 23 November 1998 to 30 June 2012.

It continues to apply after 30 June 2012 to all entities within the specified class who entered into the specified scheme during the term of the ruling. However, this ruling will not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before the date of issue of this ruling.

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