PSJF v CofT – Deductions for $37k of employee photographer’s work-related expenses denied in the absence of requisite substantiation and doubts about underlying deductibility

Tax Month - April 2018

The AAT has upheld the Commissioner’s objection decision, which denied a photographer/taxpayer work-related expenses claimed by a photographer on the basis that he failed to discharge his onus of establishing that the claimed amounts were deductible. The taxpayer claimed travel expenses and other expenses (eg stationary, mobile phone, protective gear, internet, computer hardware, camera, depreciation)…

Treasury Laws Amendment (OECD Multilateral Instrument) Bill 2018 – to give force of law to the MLI in Australia, which in turn defines when it comes into force and takes effect

Tax Month - March 2018

On Wednesday, 28 March 2018, the Government introduced the Treasury Laws Amendment (OECD Multilateral Instrument) Bill 2018 in the House of Representatives. The effect of this Bill will be to amend the International Tax Agreements Act 1953 (Agreements Act), to give the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (‘Multilateral…

Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No 2) Bill 2018 – CGT changes – excluding non-residents from ‘main residence’ exemption; avoiding double counting for Div 855 ‘principal asset’ test; additional 5% discount for ‘low cost housing’

Tax Month - March 2018

The Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No 2) Bill 2018 was introduced in the House of Reps on Thur 8.2.2018. On 15.2.18, the Bill was referred to the Senate Economics Committee, for report by 23 March 2018. On 1 March 2018, the Bill passed the Lower House, without amendment. It will…