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Edited version of private ruling
Authorisation Number: 1011760552726
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Ruling
Subject: Loan facility agreement
What this ruling is about:
In order to protect the privacy and commercial in-confidence components of this private binding ruling the following summary is provided.
The taxpayer entered into a loan facility agreement.
The Commissioner ruled that:
· Certain amounts received by the taxpayer will not be assessable to the taxpayer under section 6-5 of the Income Tax Assessment Act 1997 (ITAA 1997) or other relevant statutory income provisions
· Certain amounts received by the taxpayer
· Division 230 of the ITAA 1997 will not apply to the loan facility agreement; and
· Part IVA of the Income Tax Assessment Act 1936 will not apply to the arrangement.