Class Ruling

CR 2005/68W

Income tax: conversion by Ricegrowers' Co-operative Limited to a company registered under the Corporations Act 2001 and subsequent issue of additional shares

  • 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:

may be released

Preamble

The number, subject heading, What this Class Ruling is about (including Tax law(s), Class of persons and Qualifications sections), Date of effect, Withdrawal, Arrangement and Ruling parts of this document are a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953. CR 2001/1 explains Class Rulings and Taxation Rulings TR 92/1 and TR 97/16 together explain when a Ruling is a 'public ruling' and how it is binding on the Commissioner.

Withdrawal

1. This Class Ruling is withdrawn and ceases to have effect after 30 June 2007. The Class Ruling continues to apply, in respect of the tax laws ruled upon, to all persons within the specified class who enter into the specified arrangement during the term of the Class Ruling. Thus, the Class Ruling continues to apply to those persons, even following its withdrawal, for arrangements entered into prior to withdrawal of the Class Ruling. This is subject to there being no change in the arrangement or the persons involved in the arrangement.

Commissioner of Taxation
31 August 2005

Not previously issued as a draft

References

ATO references:
NO 2005/12046

ISSN: 1445-2014

Related Rulings/Determinations:

TR 92/1
TR 92/20
TR 97/16
TD 2000/10
CR 2001/1

Subject References:
assessable income
bonus equities
capital gain
CGT event
CGT roll-over
chose in action
co-operative company
distribution
dividends
incorporation
non-cash business benefit
ordinary income
profits
share capital
shareholders
shares
subdivision

Legislative References:
TAA 1953 Pt IVAAA
ITAA 1936 6(1)
ITAA 1936 6(1)(d)
ITAA 1936 6(4)
ITAA 1936 21A
ITAA 1936 44
ITAA 1936 45
ITAA 1936 45A
ITAA 1936 45A(1)
ITAA 1936 45A(2)
ITAA 1936 45A(3)
ITAA 1936 45A(3)(a)
ITAA 1936 45B
ITAA 1936 45B(2)
ITAA 1936 45B(2)(a)
ITAA 1936 45B(2)(b)
ITAA 1936 45B(2)(c)
ITAA 1936 45B(3)
ITAA 1936 45B(5)(a)
ITAA 1936 45B(8)
ITAA 1936 45B(9)
ITAA 1936 45C
ITAA 1936 103A
ITAA 1936 117
ITAA 1936 Pt III Div 13A
ITAA 1936 139B
ITAA 1936 139C
ITAA 1936 160ZZPH
ITAA 1997 6-5
ITAA 1997 102-5
ITAA 1997 104-25
ITAA 1997 104-135
ITAA 1997 104-155
ITAA 1997 104-155(1)
ITAA 1997 104-155(1)(a)
ITAA 1997 104-155(1)(b)
ITAA 1997 104-155(5)
ITAA 1997 110-25(1)(a)
ITAA 1997 112-25
ITAA 1997 Subdiv 124-A
ITAA 1997 124-15
ITAA 1997 Subdiv 124-I
ITAA 1997 124-520
ITAA 1997 124-520(1)(a)
ITAA 1997 124-520(1)(b)
ITAA 1997 124-520(1)(c)
ITAA 1997 124-520(1)(d)
ITAA 1997 124-520(1)(d)(ii)
ITAA 1997 124-520(1)(e)
ITAA 1997 124-520(2)
ITAA 1997 Subdiv 130-A
ITAA 1997 130-20
ITAA 1997 130-20(1)
ITAA 1997 130-20(3)
ITAA 1997 136-25
ITAA 1997 Div 725
ITAA 1997 725-50(b)
ITAA 1997 Div 727
ITAA 1997 Div 727-100(c)
ITAA 1997 960-130(1)
ITAA 1997 974-75
ITAA 1997 974-75(1)
ITAA 1997 974-165
ITAA 1997 995-1
ITAA 1997 995-1(1)
Copyright Act 1968
Corporations Act 2001
Corporations Act 2001 254C
Corporations Act 2001 254H
Corporations Act 2001 1070A(1)(a)
Co-operatives Act 1992 (NSW) 181
Co-operatives Act 1992 (NSW) 127(1)(a)
Co-operatives Act 1992 (NSW) 128
Co-operatives Act 1992 (NSW) 139
Co-operatives Act 1992 (NSW) 139(2)
Co-operatives Act 1992 (NSW) 139(2)(b)
Co-operatives Act 1992 (NSW) 141
Co-operatives Act 1992 (NSW) 316(2)
Co-operatives Act 1992 (NSW) 319(2)
Co-operatives Act 1992 (NSW) 319(3)
Co-operatives Act 1992 (NSW) 321

Case References:
Borland's Trustee v. Steel Bros & Another
[1901] 1 Ch 279


Commercial and General Acceptance Ltd v. Federal Commissioner of Taxation
(1977) 137 CLR 373
(1977) 7 ATR 716
77 ATC 4375

Commissioner of Taxes (SA) v. Executor Trustee and Agency Co. of South Australia Limited
(1938) 63 CLR 108

Federal Commissioner of Taxation v. Dixon
(1952) 86 CLR 540
(1952) 10 ATD 82

Federal Commissioner of Taxation v. Montgomery
(1999) 198 CLR 639
(1999) 42 ATR 475
99 ATC 4749

Federal Commissioner of Taxation v. Myer Emporium Limited
(1987) 163 CLR 199
87 ATC 4363
18 ATR 693

Federal Commissioner of Taxation v. W.E. Fuller Pty Ltd
(1959) 101 CLR 403

Gambotto v. WCP Ltd
(1995) 13 ACLC 342

Scott v. Commissioner of Taxation (NSW)
(1953) 3 ATD 142

Other References:
Australian Oxford Dictionary, 1st edn, 1999, Oxford University Press, Melbourne
Explanatory Memorandum to the Taxation Laws Amendment Bill 1990
Ford, HA, Austin RP, Ramsay, IM, 2003, Ford's Principles of Corporations Law, 11th edn, Butterworths, Sydney

CR 2005/68W history
  Date: Version: Change:
  1 July 2003 Original ruling  
You are here 1 July 2007 Withdrawn  

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