T a x T e c h n i c a l – M o n t h l y N e w s – November 2016 Developments – This is a collection of developments in Australian tax law and practice that occurred in November 2016 which aims to be relevant to tax practitioners.[i] Compiled By F John…
On Mon 31.10.2016, AUSTRAC published the first money laundering and terrorism financing (ML/TF) risk assessment into Australia’s superannuation sector. The Minister for Justice, Michael Keenan, said the assessment was developed in close partnership with the superannuation industry and identified a range of opportunities for the sector to further harden itself against threats. AUSTRAC identified higher than…
The Commissioner has lodged an application for special leave to appeal to the High Court against the Full Federal Court decision in FCT v Jayasinghe [2016] FCAFC 79. The Full Federal Court had by majority dismissed the Commissioner’s appeal from an AAT decision which had found that a taxpayer was exempt from his earnings as the…