Class Ruling

CR 2007/58W

Income tax: conversion by Mackay Sugar Co-operative Association Limited to a company registered under the Corporations Act 2001

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  This document incorporates revisions made since original publication. View its history and amending notices, if applicable.

Notice of Withdrawal

Class Ruling CR 2007/58 is withdrawn with effect from today.

1. CR 2007/58 ruled on the following provisions in relation to the precise scheme identified in the Ruling:

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subsection 6(1) of the Income Tax Assessment Act 1936 (ITAA 1936);

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section 45 of the ITAA 1936;

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section 45A of the ITAA 1936;

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section 45B of the ITAA 1936;

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section 45C of the ITAA 1936;

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Division 104 of the Income Tax Assessment Act 1997 (ITAA 1997);

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section 124-520 of the ITAA 1997;

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Division 725 of the ITAA 1997; and

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Division 727 of the ITAA 1997.

2. The Class Ruling is being withdrawn because the scheme in relation to which the Ruling issued is no longer to be implemented. As that scheme will not be implemented, the Ruling has no binding effect on the Commissioner.

Commissioner of Taxation
11 June 2008

Not previously issued as a draft

References

ATO references:
NO 2006/20258

Related Rulings/Determinations:

TR 2000/10

Subject References:
assessable income
bonus equities
capital gain
CGT event
CGT roll-over
control test
co-operative company
distribution
dividends
incorporation
ordinary income
profits
share capital
shareholders
shares

Legislative References:
TAA 1953
TAA 1953 Sch 1 357-75(1)
ITAA 1936 6(1)
ITAA 1936 6(4)
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)(a)
ITAA 1936 45B(2)(b)
ITAA 1936 45B(2)(c)
ITAA 1936 45B(8)
ITAA 1936 45C
ITAA 1936 160ZZPH
ITAA 1997 Div 104
ITAA 1997 112-25
ITAA 1997 Subdiv 124-A
ITAA 1997 124-240
ITAA 1997 Subdiv 124-I
ITAA 1997 124-520
ITAA 1997 124-520(1)
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 130-20(3)
ITAA 1997 Div 725
ITAA 1997 725-50(b)
ITAA 1997 Div 727
ITAA 1997 727-100(c)
Copyright Act 1968
Corporations Act 2001
Corporations Act 2001 254H
Cooperatives Act 1997 (Qld)
Cooperatives Act 1997 (Qld) 305

Other References:
Explanatory Memorandum to the Taxation Laws Amendment Bill 1990