Daily Archives: July 13, 2017

GH1 Pty Ltd, in Liquidation and Commissioner of Taxation – AAT denied ITC’s in the face of the Commr’s audit evidence that the credits related to earlier work and credits already claimed – ‘tax invoices’ and MYOB accounting entries do not evidence a supply in the period and Comm’r has no evidentiary onus – related party taxpayers should have given evidence

In GH1 Pty Ltd, in Liquidation and Commissioner of Taxation the AAT found that the Applicant was not entitled to input tax credits in respect of creditable acquisitions purportedly made in the course of the development of land in Western Australia. The Tribunal agreed with the Commissioner that the Applicant did not establish that the applicant received taxable…

OECD releases The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI) Matching Database – software beta version

The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI) Matching Database makes projections on how the MLI modifies a specific tax treaty covered by the MLI by matching information from Signatories’ MLI Positions. This tool is a preliminary (beta) version that will be improved over time. The OECD welcomes comments and…

IGT releases new newsletter – ‘IGoT News!’ – covering complaints handling, their reviews, the ATO’s fraud control management; other IGT reviews; taxpayer engagement; unpaid superannuation; taxpayer rights and protection; engaging with the tax profession

The Inspector-General of Taxation (IGT), Ali Noroozi, released his first edition (July 2017 edition) of his new newsletter – “IGoT News!“. This was on or about 13 July 2017. The newsletter aims to more regularly inform the community of the IGT’s activities and what it is hearing from the community, particularly from the complaint handling…

OECD releases its updated 2017 Transfer Pricing Guidelines for multinational enterprises and tax administrations – application of the “arm’s length principle” post BEPS changes

The OECD has released the 2017 edition of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. The Guidelines provide guidance on the application of the “arm’s length principle”. The 2017 edition of the Transfer Pricing Guidelines mainly reflects a consolidation of the changes resulting from the BEPS Project. It incorporates the following…