Seribu Pty Ltd v CofT – AAT decides that ‘bitcoin’ not a ‘foreign currency’ for income tax purposes (Div 775 foreign exchange loss deductions)July 5, 2020
ATO launches legal action against accounting giant PwC & meat processor JBS – including use of ‘legal professional privilege’ (LPP)July 2, 2020
Travelex – goes to the High Court again – this time on the amount of interest the Commissioner has to pay on the ‘overpayment’June 28, 2020
AJ & PA McBride Ltd v CofT – No 100% write-off (deduction) for existing fences on a sheep station the taxpayer ‘acquired’June 28, 2020
Div 7A and COVID-19: ATO allows 12 month extension of time to make 30 June 2020 ‘minimum yearly repayments’ to avoid a s109E deemed dividend on ‘shortfall’June 27, 2020
Ride sourcing services now eligible for taxi travel FBT exemptions – Treasury Laws Amendment (2019 Measures No. 3) Bill 2019 – Act 64 of 2020June 24, 2020
Where next for Australia’s tax system? How our tax system can help reboot prosperity for Australia – June 2020 (PwC Report)June 21, 2020
COVID-19 Early release of super – ATO flags integrity and compliance concerns citing information sources they rely onJune 20, 2020
Treasury Laws Amendment (2019 Measures No 3) Bill 2019 – ATO guidance on commuting a market linked pension which is a capped defined benefit income stream ($1.6m Transfer Balance Account)June 20, 2020
ATO whistleblower documents re garnishee notices (2017 disclosure of ATO officer Boyle) – Senate Committee gives update reportJune 20, 2020
Instant asset write-off extension to 31 December 2020 – Treasury Laws Amendment (2020 Measures No 3) Bill 2020 passedJune 20, 2020
GST withholding obligations, for purchasers of certain land – 30 June 2020 deadline for grandfathering of supplies under pre-1 July 2018 that haven’t settled by thenJune 8, 2020
Cash World Gold Buyers Pty Ltd v CofT – Taxpayer’s claim for input tax credits on supposedly ‘scrap gold’ rejected (all sorts of issues and problems)June 8, 2020
SIC and GIC for 2020/21 First quarter – ‘base rate’ 0.1%, with 3% & 7% uplifts respectivelyJune 7, 2020
‘Employee Share Scheme’ tax rules are too complicated – Law Council at Parliamentary Committee Public HearingsJune 7, 2020
‘JobKeeper key dates’ page updated on ATO website – showing payment and enrolment deadlines for each fortnightJune 7, 2020
‘HomeBuilder’ program announced – $25,000 to build new homes or substantial renovations – open from 4 June to 31 December 2020June 7, 2020
MJPV v CofT – AAT largely upheld the Commissioner’s ‘asset betterment’ assessments against a married coupleJune 6, 2020
Foreign investment reforms proposed – stronger, more flexible ‘national interest test and enforcement (tax information sharing)June 6, 2020
Super Guarantee not payable on JobKeeper unless work performed – SG Regulations amended to include new Reg 12AJune 2, 2020
PCG 2020/5 – Super funds and non-arm’s length expenditure (NALE & NALI) – ATO flags its transitional compliance approachJune 1, 2020
Small Business Superannuation Clearing House – 23 June deadline for deductible contributions in 2019/20 yearJune 1, 2020
Melbourne barrister: Dr Julianne Jaques appointment renewed as a part-time member of the Board of TaxationJune 1, 2020
Watson as trustee for the Murrindindi Bushfire Class Action Settlement Fund v CofT – Costs of administering class action settlement scheme not deductibleMay 31, 2020
Superannuation Legislation Amendment (2020 Measures No 1) Regulations 2020 – ‘work test’ pushed out 2 years and ‘spouse contributions’ explandedMay 30, 2020
Lloyd v Belconnen Lakeview Pty Ltd (No 2) – Compensation for GST charged on sale of apartmentMay 28, 2020
Treasury Laws Amendment (2020 Measures No 2) Bill 2020 introduced – hybrid mismatch; single touch payroll (STP); DGRs; JobKeeper and secrecy provisionsMay 18, 2020
Treasury Laws Amendment (More Flexible Superannuation) Bill 2020 & Regulations – Improving flexibility of superannuation for older Australians – ‘bring forward’ rule, work rule and spouse contributionsMay 17, 2020
Treasury Laws Amendment (2020 Measures No. 1) Bill 2020 introduced to broaden ‘Significant Global Entity’ (SGE) definition and ‘merger’ of superannuation fund gain and loss rolloverMay 17, 2020
JobKeeper work related disputes about first payment; and direction to take annual leave – recent FWC decisionsMay 17, 2020
