Daily Archives: August 4, 2016

Murray Goulburn milk supply support package – various tax implications

Murray Goulburn have announced they have paid their suppliers $5.49 per kg of milk solid (kgms) supplied for the 2016 financial year. This means milk suppliers may have been overpaid by up to $0.74 per kgms supplied in the 2016 financial year under the milk supply support package. Suppliers have two options to ‘repay’ any amounts…

Shord v FCT – taxpayer who worked overseas appeals Fed Crt decision that he was resident, not entitled to s23AG exemption and not entitled to foreign tax credits

The taxpayer in Shord v FCT [2016] FCA 761, has appealed that decision to the Full Federal Court. In the earlier decision, the Federal Court dismissed the taxpayer’s appeal against an AAT decision (Re Shord and FCT [2015] AATA 355) which had held that, during the relevant periods, he was a resident of Australia, was not engaged in…