The ATO on Wed 12.6.2013, released Product Ruling PR 2013/13 (Consequences for a Seller and Buyer under a White Popi Option Agreement). It applies to entities that enter into the scheme between Wed 12.6.2013 and 30 June 2016. Generally, the Ruling sets out the CGT consequences for the seller and the buyer of the product being an…
The ATO on Wed 26.6.2013, released Taxation Determination TD 2013/14 (What is the meaning of “deployment” in para 23AG(1AA)(d) of the ITAA 1936?). It states that a person is “deployed” within the meaning of para 23AG(1AA)(d) if, and only if, they have been directed to perform duties overseas by the Commonwealth, a State or a Territory…
The ATO has issued a Decision Impact Statement on the decision in FCT v Nash [2013] FCA 336. In that case, the Federal Court allowed the Commissioner’s appeal against an earlier AAT decision, which had held that a taxpayer was entitled to deductions of GIC accrued amounts for each year GIC was referable. Among other…
The ATO on Mon 3.6.2013, issued a Decision Impact Statement on the Full Federal Court decision in Sent v FCT [2012] FCAFC 187. In that case, the Full Federal Court dismissed the taxpayer’s appeal and held that the full amount of accrued and unaccrued bonus entitlements of id=”mce_marker”1.6m that were instead paid into an executive…
The Commissioner has lodged a notice of appeal to the Federal Court against the decision in AAT Case [2013] AATA 336, Re Cancer and Bowel Research Association Incorporated as trustee for Cancer and Bowel Research Trust and FCT. In that case, the AAT affirmed the Commissioner’s decision to revoke the endorsement of the Cancer and…
The AAT has refused an application by husband and wife taxpayers to reopen a hearing (which the AAT had already heard but had reserved its decision) to allow the taxpayers to call additional witnesses – one of whom was the husband who was not called in the original proceedings. The matter related to amended assessments…
The NSW Supreme Court has granted the Commissioner summary judgment against husband and wife taxpayers in a partnership for outstanding GST debts and penalties totalling over $2m. The taxpayers were partners in a partnership that conducted 2 businesses. The partnership lodged BASs on behalf of the businesses for the 2006 to 2009 years. Following an…
The AAT has upheld the Commissioner’s disallowance of a taxpayer’s claim for the R&D tax offset. The taxpayer carries on a business designing and manufacturing what it calls “environmental technology”. As part of its business, the taxpayer claimed it undertook R&D activities in relation to a project, which sought to develop 3 beverage purifier devices.…
The AAT has upheld the Commissioner’s assessments finding that drivers employed by the taxpayer were common law “employees” of the taxpayer and not independent contractors. The taxpayer had an agreement with a company for the delivery of the company’s bakery products. During the relevant period, the taxpayer engaged a number of “drivers” to make the…
In a decision handed down Thur 13.6.2013, the Federal Court has held that the AAT fell into jurisdictional error when it made orders in relation to an application before it against a disallowed objection that (i) the proceedings be held in private, (ii) that the AAT not disclose or publish any of the evidence given…