The following public advice and guidance issues have been completed.
[4176] Disqualifying individuals from acting as trustee for superannuation entities
Purpose
This Decision impact statement outlines the ATO's views on the decision in this case, which set aside the Commissioner's decision to disqualify the applicant under subsection 126A of the Superannuation Industry (Supervision) Act 1993 from acting as a trustee or a responsible officer of a corporate trustee of superannuation entities.
Outcome
The Decision impact statement Merchant and Commissioner of Taxation published on 15 January 2025.
[4208] Luxury cars and trading stock [new]
Purpose
This Decision impact statement outlines the ATO’s response to this case, which considered whether the use of luxury cars as trading stock and for public display in a museum was solely for a ‘quotable purpose’ under the A New Tax System (Luxury Car Tax) Act 1999.
Outcome
The Decision impact statement on Automotive Invest Pty Limited v Commissioner of Taxation [2024] HCA 36 published on 11 December 2024. The comments period closed on 7 February 2025.