Daily Archives: June 15, 2018

ATO to wrap up Panama Papers investigations with $65m assessments & 3 criminal investigations; Paradise Papers still a WIP for multi-authority investigations

At a Senate Estimates hearing on 30 May 2018, Neil Olesen, ATO Second Commissioner, Client Engagement Group. With regard to the Panama Papers (the first leak); he said: the ATO had completed 315 reviews or audits as part of its Panama Papers investigations. He said the ATO still had another 81 that are in progress and that…

NSW Duty – Winston-Smith v Chief Comr of State Revenue- NSW ‘landholder’ duty applied because it was ‘just or reasonable’ and the s163H discretion to exempt the transfer of shares did not apply

The NSW Supreme Court has dismissed a taxpayer’s application for review of 2 decisions by the Chief Commissioner of State Revenue. The taxpayer applied for a private ruling on the question of whether the Commissioner would be satisfied that the transfer of 75,000 shares would be an exempt acquisition under s 163H(3)of the Duties Act 1997(NSW). This…

Tax Inspector-General reports on huge increase in complaints since the Four Corners allegations of ATO collections abuses – in appearance before the Senate Estimates Committee

It is inevitable that a new second Australian Taxation Office commissioner will be appointed to hear taxpayers’ appeals, Inspector-General of Taxation Ali Noroozi says. On Tuesday Mr Noroozi told Senate Estimates complaints had increased following the joint Fairfax Media-ABC investigation into the ATO. His office acts as a watchdog over the ATO and also hears individual and small business complaints…