Product Ruling

PR 2018/2W

Income tax: taxation consequences of investing in Macquarie Equity Lever Instalment Receipts

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Notice of Withdrawal

Product Ruling PR 2018/2 is withdrawn with effect from today.

1. Product Ruling PR 2018/2 sets out the Commissioner's view on the income tax consequences for the defined class of entities, referred to as Holders, that acquire Instalment Receipts under a Macquarie Equity Lever facility (Facility) offered by Macquarie Bank Limited (the Bank).

2. The Bank entered into a Portfolio Asset Novation Agreement with Bell Potter Capital Limited (BPC) pursuant to which the Bank has agreed to novate to BPC (or a Related Body Corporate of BPC) all of the right, title, interest and benefit of a Macquarie Group Member under or in connection with each Facility entered into with a Holder, as at 1 July 2019. In conjunction with that novation, the Bank has ceased to offer Instalment Receipts under a Facility as at 1 July 2019.

3. PR 2018/2 continues to apply to Holders that acquired Instalment Receipts under a Facility on or after 29 September 2017 and on or prior to 30 June 2019 and otherwise fall within the defined class of entities to which PR 2018/2 relates.

Commissioner of Taxation
17 July 2019

© 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-IBFUEZ9

Related Rulings/Determinations:

TR 95/33

Business Line:  PGH

Legislative References:
ITAA 1936
ITAA 1936 44(1)
ITAA 1936 51(1)
ITAA 1936 51AAA
ITAA 1936 82KL
ITAA 1936 Pt III Div 3 Subdiv H
ITAA 1936 82KZL(1)
ITAA 1936 82KZL(2)(a)
ITAA 1936 82KZM
ITAA 1936 82KZMA
ITAA 1936 82KZMD
ITAA 1936 82KZME
ITAA 1936 82KZME(3)
ITAA 1936 82KZME(3)(a)
ITAA 1936 82KZME(4)
ITAA 1936 82KZME(5)
ITAA 1936 82KZME(6)
ITAA 1936 82KZME(8)
ITAA 1936 82KZME(9)
ITAA 1936 82KZMF
ITAA 1936 97(1)(a)
ITAA 1936 Pt IIIAA Div 1A
ITAA 1936 Pt IVA
ITAA 1997
ITAA 1997 8-1
ITAA 1997 Div 104
ITAA 1997 104-10
ITAA 1997 104-25
ITAA 1997 104-25(1)(c)
ITAA 1997 104-25(3)
ITAA 1997 109-5
ITAA 1997 110-25
ITAA 1997 110-45(3)
ITAA 1997 110-55
ITAA 1997 110-55(6)
ITAA 1997 Div 115
ITAA 1997 115-5
ITAA 1997 134-1(1)
ITAA 1997 134-1(4)
ITAA 1997 Div 207
ITAA 1997 Div 230
ITAA 1997 Div 235
ITAA 1997 235-815(2)
ITAA 1997 235-820
ITAA 1997 235-820(1)
ITAA 1997 235-820(2)
ITAA 1997 235-825(1)(a)
ITAA 1997 235-830
ITAA 1997 235-835
ITAA 1997 235-835(1)(b)
ITAA 1997 Div 245
ITAA 1997 245-10
ITAA 1997 245-35(a)
ITAA 1997 245-60
ITAA 1997 245-65
ITAA 1997 245-75(2)
ITAA 1997 Div 247
ITAA 1997 247-15(5)(b)
ITAA 1997 247-20
ITAA 1997 247-20(3)
ITAA 1997 247-20(4)
ITAA 1997 247-20(5)
ITAA 1997 247-20(5A)
ITAA 1997 247-20(6)
ITAA 1997 247-30(2)
ITAA 1997 Subdiv 328-C
ITAA 1997 328-110
SISA 1993
TAA 1953