Class Ruling

CR 2003/35A1 - Addendum

Income tax: capital gains: compensation receipts - Indigenous Wages and Savings Reparations Process

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Addendum

This Addendum amends Class Ruling CR 2003/35 to update the ruling to take account of an additional payment made to the class of persons covered by the ruling.

CR 2003/35 is amended as follows:

1. Paragraph 12

After paragraph insert:

12A. On the 25 March 2008, the Queensland Government announced a second round of payments for successful claimants in the Indigenous Wages and Savings Reparations Process. The second round Reparations Offers were:

•

$3,000 to people who previously received a $4,000 reparations payment, or

•

$1,500 to people who previously received a $2,000 reparations payment.

2. Paragraph 20

After paragraph insert:

20A. The second round payments are additional capital proceeds for the original CGT event which occurred at the time of the first payment.

This Addendum applies on and from 1 July 2007.

Commissioner of Taxation
8 June 2011

References

ATO references:
NO 1-2UJJ5SG