The Government has said it is committed to addressing the concerns that have been raised by startups in relation to Employee Share Schemes. It said it will commence direct consultations with interested stakeholders for 2 weeks commencing 28 January 2014. Consultations will be conducted in Melbourne and Sydney, with the option to hold teleconferences with those otherwise…
The Federal Government has released further details on its election proposal to streamline employer superannuation reporting and cut red tape by transferring the running of the Small Business Superannuation Clearing House from Medicare to the ATO. Under the proposal, small businesses would report superannuation payments to the agency that already collects their PAYG payments, and…
The Government on Fri 31.1.2014, released a further exposure draft of legislation for the 3rd and final element of the Investment Manager Regime (“IMR”). The draft legislation will amend the ITAA 1997 to include a new Subdiv 842-I to set out rules about the taxation of certain foreign funds (known as IMR foreign funds) that…
The Taxation Administration Act 1953 -PAYG withholding – Occasional payroll donations to deductible gift recipients No 4 was registered on 2 January 2014. The instrument enables a variation to the amount of withholding required by a payer under the PAYG withholding system for payees who make occasional donations to a deductible gift recipient under an occasional workplace…
M o r g a n’ s T a x M o n t h – January 2014 Developments – This is a collection of developments in Australian tax law and practice that occurred in January 2014 and which aims at being of relevance to tax lawyers.* F John Morgan A member of the Victorian…
Global tech giants Google, Apple and Microsoft are “under review” by the ATO, senior executives said, on Wed 8.4.2015, when appearing before the Sydney hearing of the Senate Economics References Committee Inquiry into corporate tax avoidance. The executives said the review means the Tax Office has not renewed agreements with the companies on transfer pricing.…
A taxpayer has, in the main, been successful before the SA Supreme Court in a matter concerning the primary production land tax exemption. The taxpayer owned 5 hectares of land. It created a residential subdivision on 3.5 hectares of the land and by 30 June 2005 had sold all but 2 residential allotments. It developed an olive…
The Commissioner of State Revenue (Qld) has been successful before the Qld District Court in seeking summary judgment against a group of 3 taxpayers to recover unpaid payroll tax, penalty tax and unpaid tax interest. The taxpayers raised a number of arguments in disputing the proceedings and the Commissioner’s application. Among other things, the taxpayers…
In a decision handed down on Tuesday 28.4.2015, the NSW Civil and Administrative Tribunal dealt with a preliminary matter concerning whether the principal place of residence (PPR) concessions under clauses 6 (unoccupied land concession) and 7 (change to PPR concession) of Sch 1A of the Land Tax Management Act 1956 (NSW) could apply to exempt more…
In a decision handed down, on Tue 21.4.2015, the NSW Civil and Administrative Tribunal affirmed a decision of the Commissioner of State Revenue (NSW) refusing the taxpayers’ claim for the principal place of residence (PPR) exemption in respect of a property for the 2012 and 2013 land tax years. The taxpayers (a couple) argued the…