Daily Archives: October 24, 2017

Thomas v CofT – High Court gives Commissioner leave to appeal adverse franking credit streaming decision – based on Qld Supreme Court declaration of beneficiaries’ rights

The High Court has granted the Commissioner leave to appeal the decision of the Full Federal Court in Thomas & Anor v CofT [2017] FCAFC 57. The case involved franking credit streaming and the Full Federal Court had unanimously allowed the taxpayers’ appeals against the August 2015 decision of Greenwood J in Thomas v CofT [2015] FCA 968 and…

Moignard and C of T – Taxpayer beneficiary assessable to only 1/3rd of the trust’s property profit under default beneficiary’ clause argument

The AAT has accepted the Commissioner’s changed position on the “present entitlement” of a taxpayer beneficiary and reduced tax assessments and penalty issued to him. The case concerned the 2007-08 financial year and, substantively, concerned whether the taxpayer was “presently entitled” to certain trust income during that year. The taxpayer was a winemaker who used…

Treasury Laws Amendment (Whistleblowers) Bill 2017 – Exposure Draft for consultation – uniform provisions under the Corporations Act and parallel taxation related provisions

On 23 October 2017, the Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer MP, today released for public consultation exposure draft legislation – the Treasury Laws Amendment (Whistleblowers) Bill 2017 and explanatory material. The Minister says: these reforms will, for the first time, create a single whistleblower protection regime, in the Corporations Act,…

NSW payroll tax: JP Property Services Pty Limited v Chief Comr of State Revenue – no payroll tax on payments under cleaning subcontractor agreements as they were not ’employment agency contracts’ under the purposive interpretation accepted by earlier Court decisions

In a lengthy decision, the NSW Supreme Court has allowed a taxpayer’s appeal and revoked payroll tax assessments concerning out of hours cleaning services provided to supermarkets and other businesses. The taxpayer (JP) provided contract cleaning and property maintenance services to commercial and industrial clients, including supermarkets operated by Franklins Pty Ltd. To provide those…