In a decision dated 29 June 2012 (but released by the AAT on 11 January 2013), the AAT has dismissed an appeal by taxpayers concerning the Commissioner’s decision regarding the date of GST deregistration of an entity operated by the taxpayers. The facts are the same as those in Yacoub v FCT [2012] FCA 678. The matter broadly concerned…
The AAT has dismissed a taxpayer’s appeal and held that the Commissioner was correct to deny it GST refunds for net negative amounts. Between 1987 and June 2003, the taxpayer conducted a car dealership. As a part of its business, it received hold-back payments made by parties (manufacturers or importers of motor vehicles) from whom it bought…
The High Court has referred to an enlarged bench of the Court the Commissioner’s application for special leave to appeal against the decision of the Full Federal Court in Unit Trend Services Pty Ltd v FCT [2012] FCAFC 112. The appeal concerns the application of the GST anti-avoidance provisions in Div 165 of the GST Act.…
The ATO has advised that it has obtained data that identifies credit and debit card sales made by Australian businesses in the 2011-12 financial year from various banks including: Commonwealth Bank of Australia; St George Bank; American Express Australia Limited; Diners Club Australia; Westpac Banking Corporation; Australia and New Zealand Banking Group Limited; National Australia…
The ATO Thur 31.1.2013, released Practice Statement PS LA 2013/1 outlining the guidelines to be followed by tax officers preparing statements of reasons pursuant to s 13 of the Administrative Decisions (Judicial Review) Act 1997 (ADJR Act). The Practice Statement states that s 13 imposes an obligation on decision makers in the ATO to provide a written…
The ATO on Wed 30.1.2013, issued the following Class Rulings: CR 2013/7: Queensland Government Department of Education Training and Employment – early retirement scheme. It applies from 30 January 2013 to 31 December 2013. The Ruling broadly states that the scheme is an early retirement scheme for the purposes of s 83-180 of the ITAA 1997. CR 2013/8: Demerger of…
The ATO on Wed 23.1.2013, issued the following Class Rulings: CR 2013/5: Cape PLC conversion of employee share scheme interests from rights to options. It applies from 1 July 2012 to 30 June 2013. The Ruling states that no ESS deferred taxing point will occur for the purposes of s 83A-120 of the ITAA 1997 as a consequence of the…
The ATO on Wed 16.1.2013, issued Class Ruling CR 2013/4 (Return of capital: Energy Infrastructure Trust). It applies from 1 July 2011 to 30 June 2013. The Ruling broadly states that the return of capital is not a dividend as defined in s 6(1) of the ITAA 1936. [LTN 10, 16/1/13]
The ATO on Wed 9.1.2012, issued the following Class Rulings: CR 2013/1: The GST treatment of rates and annual charges levied by NSW councils. It applies from 1 July 2013. The Ruling broadly states that the payment of ordinary rates or special variations to ordinary rates is “exempt” from GST under s 81-5(1) of the GST Act. CR…
This TD, issued Wed 23.1.2013, states that ordinary income derived by an individual from allowing wind farming infrastructure to be constructed, operated and accessed on freehold land that they own and use in carrying on a primary production business does not constitute “assessable primary production income” of that individual for the purposes of Div 392 of…