COMMISSIONER OF TAXATION

The Commissioner of Taxation, Chris Jordan, gives notice of the following Rulings, copies of which can be obtained from Branches of the Australian Taxation Office or at http://law.ato.gov.au.

NOTICE OF RULINGS
Ruling Number	Subject	Brief Description
CR 2015/23	Income tax: National Australia Bank Limited – issue of NAB Capital Notes	The Ruling sets out the Commissioner’s position for investors who are issued NAB Capital Notes by National Australia Bank Limited. The Ruling applies from 1 July 2014 to 30 June 2022.
GSTR 2015/1	Goods and services tax: the meaning of the terms ‘passed on’ and ‘reimburse’ for the purposes of Division 142 of the A New Tax System (Goods and Services Tax) Act 1999	The Ruling sets out the Commissioner’s position for the meaning of the terms ‘passed on’ and ‘reimburse’ in relation to an amount of excess GST. The Ruling applies both before and after its date of issue.
PR 2015/2	Income tax: tax consequences for a borrower being charged a discounted home loan interest rate calculated under Loan Reducer	The Ruling sets out the Commissioner’s position for those that enter the scheme in relation to the application of the Loan Reducer system to calculate a discounted interest rate that is charged by a lending institution on the home loan of a borrower who (directly or indirectly via an associated entity) also has an investment loan with that lender. The Ruling applies prospectively from 25 March 2015, the date it is published.
TD 2015/4	Fringe benefits tax: for the purposes of section 28 of the Fringe Benefits Tax Assessment Act 1986 what are the indexation factors for valuing non‑remote housing for the fringe benefits tax year commencing on 1 April 2015?	The Determination sets out the Commissioner’s position for the indexation factors for valuing non-remote housing for the FBT year commencing 1 April 2015. The Determination applies to the FBT year commencing 1 April 2015.
TD 2015/5	Fringe benefits tax: for the purposes of section 135C of the Fringe Benefits Tax Assessment Act 1986, what is the exemption threshold for the fringe benefits tax year commencing on 1 April 2015?	The Determination sets out the Commissioner’s position for the exemption threshold for the FBT year commencing 1 April 2015. The Determination applies to the FBT year commencing 1 April 2015.
TD 2015/6	Fringe benefits tax: what are the rates to be applied on a cents per kilometre basis for calculating the taxable value of a fringe benefit arising from the private use of a motor vehicle other than a car for the fringe benefits tax year commencing on 1 April 2015?	The Determination sets out the Commissioner’s position for the rates to be used on a cents per kilometre basis for the FBT year commencing 1 April 2015. The Determination applies to the FBT year commencing 1 April 2015.
TD 2015/7	Fringe benefits tax: reasonable amounts under section 31G of the Fringe Benefits Tax Assessment Act 1986 for food and drink expenses incurred by employees receiving a living‑away‑from‑home allowance fringe benefit for the fringe benefits tax year commencing on 1 April 2015	The Determination sets out the Commissioner’s position for reasonable amounts for food and drink expenses for the FBT year commencing 1 April 2015. The Determination applies to the FBT year commencing on 1 April 2015.
TD 2015/8	Fringe benefits tax: what is the benchmark interest rate to be used for the fringe benefits tax year commencing on 1 April 2015?	The Determination sets out the Commissioner’s position for the benchmark interest rate for the FBT year commencing 1 April 2015. The Determination applies to the FBT year commencing on 1 April 2015.

NOTICE OF ADDENDA
Ruling Number	Subject	Brief Description
TR 2006/10	Public Rulings	The Addendum amends Taxation Ruling TR 2006/10 to take into account: that the administrative penalty contained in Division 284 of Schedule 1 to the Taxation Administration Act 1953 applies in relation to the Petroleum Resource Rent Tax (PRRT) matters the repeal of the Minerals Resource Rent Tax Act 2012 (MRRT). The Addendum applies in relation to the: application of the administrative penalty to PRRT matters on and from 1 July 2012, and repeal of the MRRT on and from 30 September 2014.
TR 2006/11	Private Rulings	The Addendum amends Taxation Ruling TR 2006/11 to take into account the repeal of the Minerals Resource Rent Tax Act 2012. The Addendum applies on and from 30 September 2014.

NOTICE OF WITHDRAWALS
Ruling Number	Subject	Brief Description
TD 92/181	Income tax: do mutual receipts form part of ‘exempt income’ in the context of general domestic current year losses and undeducted prior year losses?	Taxation Determination TD 92/181 is withdrawn with effect from 25 March 2015.
TD 93/7	Income tax: under what circumstances is a strata title body corporate required to lodge an income tax return?	Taxation Determination TD 93/7 is withdrawn with effect from 25 March 2015.
TD 93/73	Income tax: will a strata title body corporate be taxed as a non‑profit company if it includes non‑profit clauses in its by‑laws?	Taxation Determination TD 93/73 is withdrawn with effect from 25 March 2015.
TD 96/22	Income tax: does the interest payable on late levies represent assessable income of a body corporate?	Taxation Determination TD 96/22 is withdrawn with effect from 25 March 2015.