The NSW Court of Appeal has unanimously dismissed the Commissioner’s appeal and held that he should pay a liquidator’s costs in relation to a matter where a claim was made by the liquidator of the company against Commissioner pursuant to s 588FF under the Corporations Act 2001 for the repayment of id=”mce_marker”.3m in tax paid to…
The NSW Supreme Court has reopened sentence proceedings in a Project Wickenby matter, following the High Court’s decision on 14 February 2014 in Milne v The Queen [2014] HCA 4, where it quashed the conviction in relation to the money laundering count. This left the charge on which he was convicted in December 2012, of dishonestly obtaining a gain…
The WA District Court has overturned a Registrar’s decision to enter summary judgment against a company director for the recovery of unremitted PAYG withholding amounts. Mad Monk Pty Ltd was a subsidiary of Oz Brewing Ltd, which was a publicly listed company. The defendant in these proceedings was a significant shareholder of Oz Brewing. In August 2008,…
The Privacy Commissioner has affirmed an ATO decision to refuse access to documents concerning the rights to future income rules that was requested under the Freedom of Information Act 1982 (the FOI Act). On 28 February 2013, the applicant applied to the ATO for access to: “…for the period of 3 June 2010 until 22 February 2013, photocopies of the following…
The Supreme Court of Western Australia has sentenced Gregory John Dunn to 7 years’ imprisonment (with a 4-year non-parole period) for his role in a $2.6m tax conspiracy involving a false interest deduction scheme. Mr Dunn was found guilty on 8 November 2013 of conspiring with another person with the intention of dishonestly causing a loss to a…
The AAT has ruled that an early retirement pension that a resident taxpayer received from the World Bank in the 2009 and 2010 income years in connection with his employment with the bank as a sanitary engineer between 1993 and 2007 was exempt from Australian income tax. The taxpayer argued that the pension, in view…
The AAT has confirmed the Commissioner’s objection decision to disallow a taxpayer’s claim for an R&D tax offset of some $370,000 in the 2007 income year and to only allow a tax offset of $25,000 under an adjustment made via a notice issued under s 73IA of the ITAA 1936. The taxpayer claimed the offset in…
The AAT has held that a taxpayer, through persons appointed as her power of attorney (including her nephew), was not carrying on a business of share trading. As a result, the taxpayer was not entitled to a deduction for a trading loss of some $790,000 in the 2009 income year. In arriving at its decision,…
A taxpayer has failed in his bid to be released from outstanding income tax liabilities on grounds of serious hardship. The taxpayer’s income tax related liabilities (including interest and penalties) totalled just over $40,000. His GST debts (including related interest charges and penalties) totalled almost $34,000, but the Commissioner’s power (under s 340-10 in Sch 1 TAA)…
The AAT has remitted a matter to the Commissioner with the direction that a taxpayer be assessed for the 2008 income year as having a taxable income of id=”mce_marker”26,301 and being liable to tax of $37,620.40, together with any necessary adjustment to penalty and interest. It also affirmed a 75% administrative penalty that had been…