Class Ruling

CR 2006/8W

Income tax: redemption of Preferred Exchangeable Resettable Listed Shares (PERLS) - Commonwealth Bank of Australia

• Please note that the PDF version is the authorised version of this withdrawal notice.
  This document incorporates revisions made since original publication. View its history and amending notices, if applicable.

FOI status:

This Ruling provides you with the following level of protection: This publication (excluding appendices) is a public ruling for the purposes of the Taxation Administration Act 1953. A public ruling is an expression of the Commissioner's opinion about the way in which a relevant provision applies, or would apply, to entities generally or to a class of entities in relation to a particular scheme or a class of schemes. If you rely on this ruling, we must apply the law to you in the way set out in the ruling (or in a way that is more favourable for you if we are satisfied that the ruling is incorrect and disadvantages you, and we are not prevented from doing so by a time limit imposed by the law). You will be protected from having to pay any under-paid tax, penalty or interest in respect of the matters covered by this ruling if it turns out that it does not correctly state how the relevant provision applies to you.

Withdrawal

1. This Ruling is withdrawn and ceases to have effect after 30 June 2006. However, the Ruling continues to apply after its withdrawal in respect of the tax laws ruled upon, to all persons within the specified class who entered into the specified scheme during the term of the Ruling, subject to there being no change in the scheme or in the person's involvement in the scheme.

Commissioner of Taxation
1 March 2006

Not previously issued as a draft

References

ATO references:
NO 2006/3245

Related Rulings/Determinations:

TR 92/20

Subject References:
assessable income
CGT
cost base and reduced cost base
dividends
redemption

Legislative References:
TAA 1953
ITAA 1936 6(1)
ITAA 1936 44(1)
ITAA 1936 160ARDM
ITAA 1997 104-25
ITAA 1997 104-25(2)
ITAA 1997 104-25(3)
ITAA 1997 110-25
ITAA 1997 110-25(1)
ITAA 1997 110-25(2)
ITAA 1997 110-25(3)
ITAA 1997 110-55
ITAA 1997 110-55(1)
ITAA 1997 110-55(2)
ITAA 1997 116-20
ITAA 1997 116-20(1)
ITAA 1997 116-20(1)(a)
ITAA 1997 116-30
Copyright Act 1968