Daily Archives: February 18, 2017

‘SMSF Association’ and ATO announce strategic 3 year partnership to jointly to ensure effective regulation and integrity of the SMSF sector

The SMSF Association and Australian Tax Office (ATO) have announced a three-year strategic partnership, effective 15 February 2017. In a statement of intent released today, the Association and ATO outlined their intentions to work together to ensure effective regulation and integrity of the SMSF sector. The goals include improve and maintain the integrity and professionalism…

Crimes Amendment (Penalty Unit) Bill 2017 introduced to increase the Commonwealth ‘penalty unit’ from $180 to $210 from 1 July 2017 and defer the first automatic 3 year CPI adjustiment to 1 July 2020

The Government introduced the Crimes Amendment (Penalty Unit) Bill 2017 into the House of Reps 16.2.2017 (see APH Bill Tracker). It proposes to amend the Crimes Act 1914 to increase the amount of the Commonwealth ‘penalty unit’ from $180 to $210, with effect from 1 July 2017. It would also delay the first automatic adjustment of the…

Treasury Laws Amendment (Working Holiday Maker Employer Register) Bill 2017 – information kept by the ATO on employer registration will be kept confidential

The Government introduced the Treasury Laws Amendment (Working Holiday Maker Employer Register) Bill 2017 in the House of Reps on 16.2.2017. It proposes to give effect to the Government’s commitment that: the information collected by the Commissioner of Taxation concerning the employer registration information of employers of working holiday makers will not be able to…

Diverted Profits Tax and other Multinational Tax Avoidance measures Bills were referred to a Senate committee for report by 20 March 2017

The Treasury Laws Amendment (Combating Multinational Tax Avoidance) Bill 2017 and the Diverted Profits Tax Bill 2017 have been referred to the Senate Economics Legislation Committee for inquiry and report by 20 March 2017. The Bills seek to implement a 40% Diverted Profits Tax (DPT) that would target multinationals that enter into arrangements to divert their Australian…

Treasury Laws Amendment (GST Low Value Goods) Bill 2017 – will make the supply of ‘low value goods’ (to Australian consumers) taxable in Australia and make ‘electronic platform’ operators and ‘re-delivers’ liable for the tax also

The Government introduced the Treasury Laws Amendment (GST Low Value Goods) Bill 2017 on 16 Feb 2017. It proposes to amend the A New Tax System (Goods and Services) Act 1999 (GST Act) to ensure that GST is payable on certain supplies of low value goods that are purchased by consumers and are imported into…

Uber B.V. v FCT – UberX drivers must register for GST, irrespective of turnover, as they supply “taxi services” within the ordinary meaning of the relevant terms – despite all the distinctions put forward by Uber

On Friday 17.2.2017, the Federal Court has held that the uberX service, supplied by one of its drivers, constituted the supply of “taxi travel” within the meaning of s144-5(1) [see extract below] of the A New Business System (Goods and Services Tax) Act 1999 (GST Act). At the heart of this proceeding is the question…

Tax Month – February 2017

T a x  T e c h n i c a l  –  M o n t h l y  N e w s – February 2017 Developments – This is a collection of developments in Australian tax law and practice that occurred in February 2017 which aims to be relevant to tax practitioners.[i] Compiled By F…