In a 2:1 majority decision, the Court of Appeal of the Supreme Court of Queensland has dismissed an appeal by 2 directors from the decision of the court at first instance to grant summary judgment against them for amounts of $297,000 each for directors’ penalties imposed pursuant to s 222AOC of the ITAA 1936, and in…
The High Court has granted a taxpayer special leave to appeal from the decision of the NSW Court of Criminal Appeal in Agius & Ors v R [2011] NSWCCA 119, concerning an issue regarding the proof of an alleged offence of conspiracy. The High Court has released a transcript of its decision – Agius v…
The taxpayer has lodged a notice of appeal to the Federal Court against the decision in AAT Case [2013] AATA 93, Re Batchelor and FCT. The AAT had decided that a repayment of a deposit paid upon entering into a contract to buy a retirement village was an assessable recoupment pursuant to s 20-20 of the…
The ATO on Tue 12.3.2013, released a Decision Impact Statement giving its views on the decision of Middleton J of the Federal Court in [2012] FCA 1195. The Federal Court held that various companies that were part of the Visy group were entitled to a deduction under s 8-1 of the ITAA 1997 for losses of some…
The ATO Fri 15.3.2013, released a Decision Impact Statement on the Full Federal Court’s decision in Denlay v FCT (2011) 83 ATR 625. In that case, the Full Federal Court unanimously confirmed that the Commissioner was not in breach of the criminal code in using illegally obtained information to issued amended assessments to a taxpayer…
The Tax Office Wed 27.3.2013, released 4 determinations dealing with FBT rates, thresholds, etc for the 2013-14 FBT year (ie the FBT year commencing on 1 April 2013). TD 2013/5: the indexation factors for valuing non-remote housing are: NSW – 1.051; Vic – 1.030; Qld – 1.028; SA – 1.031; WA – 1.057; Tas – 1.020; ACT…
This Draft TD, issued on Wed 27.3.2013, states that a person is “deployed” within the meaning of para 23AG(1AA)(d) of the ITAA 1936 if and only if they have been directed to perform duties overseas by the Commonwealth, a State or Territory, or an authority thereof in their capacity as a member of a disciplined…
In the first matter of its kind before the courts, the Commissioner has been unsuccessful in seeking to impose civil penalties on alleged scheme promoters under Div 290 of the TAA for the promotion of tax avoidance schemes. The matter involved 2 men who were marketers (and investors) in a managed investment scheme for which Product…
The Federal Court has upheld assessments and penalties against a taxpayer totalling almost id=”mce_marker”m. A Deputy Commissioner of Taxation had sought to recover from the taxpayer debts payable for income tax and penalties pursuant to assessments issued in respect of the years of income ended 30 June 2009, 30 June 2010 and 30 June 2011. As at 30 January 2013, the debts total…
In a decision handed down on Wed 20.3.2013, the Federal Court allowed the Commissioner’s appeal from the decision in AAT Case [2012] AATA 660, Re Boyn and FCT concerning the calculation of tax payable on an ETP. In July 2009, the taxpayer received an ETP from his employer comprising a taxable component of $250,880 and a tax-free…