PCG 2019/7 – Large APRA regulated Super Funds have until 30 June 2020 to get their systems into order to be able to reporting of ‘pension tax bonus’ amountsOctober 6, 2019
TD 2019/D9 – the ‘natural love and affection’ exclusion from Commercial Debt forgiveness – Commissioner proposes to change his position on forgiving companiesOctober 6, 2019
Gao v Tax Practitioners Board – No stay of tax agent registration terminations (535 over claimed deductions, over claimed interest, under declared GST and consistently late self-returns)October 6, 2019
Taxation Guru Pty Ltd and Gambhir Watts v Tax Practitioners Board – no ‘stay’ of decision terminating their tax agent registration (for claiming deductions for unsupportable ‘work-related expenses’)October 6, 2019
Limit to taxation concessions applicable to testamentary trusts – only income from deceased estate – draft legislationOctober 6, 2019
The impact of foreign acquirer land tax and duty surcharges – it started in Victoria and has spread across most state and territory jurisdictions with similar but different tests and ambitOctober 6, 2019
After APRA fails against IOOF – academics call for super fund ‘reserves’ to be better regulated and better scrutinisedOctober 1, 2019
APRA’s failed case against IOOF entities and officers – Where are we now after 873 paragraphs of Justice Jagot’s reasons? – 2 articles, 2 viewsOctober 1, 2019
IOOF, the ‘pub test’ and members’ money – an article about APRA’s failed action against various IOOF entities and officersOctober 1, 2019
APRA v Kelaher & Ors – Court finds against APRA, rules that APRA did not prove that IOOF breached the SIS Act and did not disqualify the relevant officers (some of whom had retired from IOOF by then)October 1, 2019
Deputy Commissioner of Taxation v Huang – Freezing orders made over Australian assets of notorious Chinese billionaire’s and his wife’s Australian assets – supporting assessments of $140mSeptember 30, 2019
Billionaire Huang Xiangmo told ATO he had no assets overseas – but 71% of the disputed tax liability turns on the market value cost base of Chinese real estate when he became an Australian residentSeptember 30, 2019
Chinese Billionaire’s assets frozen – ATO says he hid $170m of income and Hong Kong wouldn’t help enforce foreign tax liabilitiesSeptember 30, 2019
ATO froze the assets of Chinese billionaire Huang Xiangmo – ATO caught out by cancellation of his visaSeptember 30, 2019
This has nothing to do with tax either – but Cannon-Brookes’ $25b plan to power Singapore with 15,000 ha of solar cells in outback Australia, was interestingSeptember 25, 2019
Director ID numbers – Labor moves amendments to the Government’s ‘Combating Illegal Phoenixing Bill’ replicating it’s lapsed legislation on DINsSeptember 23, 2019
Low cost Sovereign Wealth Fund style of investing would eradicate the gross fee burden born the enormous AUD 2+ trillion Australian Superannuation system (read ‘index trading’ within chosen asset allocations)September 23, 2019
‘Residency – Individuals (and trusts)’ – a valuable Paper delivered to the LIV Tax Discussion Group in September 2019September 19, 2019
Productivity Commission recommends – abolish ‘Zone Tax Offset’; Refresh Remote Area Allowance; Keep FBT Remote Area ConcessionsSeptember 7, 2019
IGTO issues its ‘operational guidelines’ for both ‘complaints’ about ATO decisions and also reviews and investigations into ‘systemic’ ATO issuesSeptember 7, 2019
ATO’s ‘take’ on their Glencore transfer pricing loss – they’re considering an appeal – but otherwise extol the virtues of ‘arms -length’ pricingSeptember 7, 2019
Glencore Investment Pty Ltd v CofT – ‘Swiss Head Co – Aus Sub’ Pricing Agreement did not offend either Div 13A or Subdiv 815-A Transfer Pricing Provisions (within arm’s length and restructuring agreement not permitted)September 7, 2019
Taxation of the Digitalised Economy – An Informal Update by Tony Stolarek given to the Melbourne Taxation Discussion GroupSeptember 7, 2019
Treasury Paper on ‘progressive tax rates’ in Australia – just how much difference is there in the tax paid by the top ‘decile’ over the last 22 years?September 3, 2019
ATO’s Report on Consultations in July 2019 – consultations received, open & completed and meetings of various Steering, Working, Stewardship, Co-design & Focus GroupsSeptember 2, 2019
Glencore v CofT – Law Council’s summary of the High Court’s seminal decision holding ‘legal professional privilege’ is only a ‘shield’ not a ‘sword’September 2, 2019
Binqld Finances Pty Ltd (In Liq) v Israel Discount Bank Ltd – Commissioner ordered to produce a copy of his deed, with certain taxpayer information redacted because it was “protected” under TAA53 secrecy provisionsSeptember 2, 2019
ASIC disqualifies Cairns director from managing companies after engaging in illegal phoenix activitySeptember 2, 2019
Firefighters Benefit Fund of WA Inc v CofT – Firefighters Benefit Fund carrying on insurance business for income tax purposes and was therefore assessable on receiving member contributionsAugust 31, 2019
NTLG June 2019 Key Messages – Commissioner’s Remedial Power not working as intended; ATO panels; Environmental Scan; IGT’s report on the ‘Future of the Tax Profession’; ATO engaging with taxpayersAugust 31, 2019
Board of Taxation – August 2019 Update – VicBar’s Dr Julianne Jacques acting Chair; Corporate Residency review; 169 signatories to Voluntary Transparency Code; FBT Compliance cost report soon; ‘Granny Flat’ (life care) arrangements & tax impediments to avoiding elder abuseAugust 31, 2019
LIV opposes, as misconceived, the ATO’s proposal to make Vic & NSW Lawyers report, to their regulator, conduct that offends (or might offend) the ‘Promotor Penalty Provisions, under changes they suggest, in Legal Profession Uniform LawAugust 31, 2019
NZ Commr of Inland Revenue fails in Supreme Court Appeal against a decision enforcing her to deliver information to the Korean National Taxation Service under the NZ-Korea Double Tax AgreementAugust 31, 2019
Land Tax Trust Surcharge – Nomination of Principal Place of Residence (PPR) beneficiary and notice of beneficial interestsAugust 31, 2019
Law Council of Australia’s submissions opposing the ATO’s proposal to change the Legal Profession Uniform Law and Rules to make any actual or potential ‘Promoter Penalty’ conduct a ‘show cause event’ threatening the lawyers ‘practising certificate’August 31, 2019
Tax Haven complications – ‘Panama’ and ‘Paradise’ Papers – CFC, MAAL, DPT, DTA, MLI and Part IVA (as the great John McEnroe used to say: ‘are you serious?’)August 31, 2019
