Law Companion Ruling

LCR 2020/1A2 - Addendum

JobKeeper payment - decline in turnover test

Addendum

This Addendum amends Law Companion Ruling LCR 2020/1 to further clarify that certain gifts to deductible gift recipients, that are treated as consideration for a supply, do not have to be tax deductible for the donor.

LCR 2020/1 is amended as follows:

1. Paragraph 19

(a)  In the third dot point, omit the first dashed point, excluding footnote 15; substitute:

-
certain gifts received by a deductible gift recipient15

(b)  At the end of footnote 15, insert 'See paragraph 22 and footnotes 23A and 24 of this Ruling.'

(c)  At the end of footnote 16, insert 'For the meaning of deductible gift recipient, see footnote 24 of this Ruling.'

This Addendum applies on and from 7 May 2020.

Commissioner of Taxation
10 May 2020

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO 1-LEOP2KG

ISSN: 2209-1300

Business Line:  SMB