Daily Archives: June 14, 2017

Hacon v C of T (Cwth) – the Court held that the Commissioner’s decision not to rule because he needed more information (which he did not go on and ask for) was an error of law and was quashed

On Thur 13.6.2017, the Federal Court held that the Commissioner’s decision to decline to make a private ruling, requested by the taxpayers, be quashed. The case essentially involved the inter-generational transfer of a family grazing business. The taxpayers were a company and 3 related individuals. The individuals were the sons of the late Mr Walter Hacon.…

Multilateral Treaty Convention – signed by Australian Minister and 67 other jurisdictions, 30 of which will modify Australia’s DTT’s with them – Treasury summarises Australia’s position

Australia has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the Convention). The Minister for Trade, Tourism and Investment, the Hon Steven Ciobo MP, signed the Convention for Australia at a ceremony hosted by the Organisation for Economic Cooperation and Development (OECD) in Paris on 7…

LCG 2017/D5 – when ‘re-deliverers’ (and which re-deliverers) are liable for Australian GST on the supply of low-value imported goods

This draft Law Companion Guide: LCG 2017/D5 was released by the ATO on Thur 8.6.2017. It explains the measures in the Treasury Laws Amendment (GST Low Value Goods) Bill 2017 that seek to make redeliverers responsible for GST on offshore supplies of low-value goods. This Bill, which is still before the House of Reps, imposes…

LCG 2017/D4 – when an ‘electronic distribution platforms’ operator is liable for Australian GST under the ‘Netflix’ intangible supplies laws and the low value import laws

This draft Law Companion Guide LCG, 2017/D4 was released on Thur 8.6.2017. It  describes how the Commissioner intends to apply: the “Netflix tax” rules in the Tax and Superannuation Laws Amendment (2016 Measures No 1) Act 2016 (applicable from 1 July 2017) and the imported low-value goods measures in the Treasury Laws Amendment (GST Low Value Goods) Bill…