Australian indirect tax budget update for 2018 – stamp duty, payroll and land tax Authors: Barbara Phair, Partner, Sammuel Dobbie-Smith, Graduate, Georgia Monaghan, Graduate. – Ashurst Lawyers Following the NSW State Budget’s release on 19 June 2018, all of the State Budgets (other than in South Australia) have now been handed down. The South…
The Australian Taxation Office (ATO) has just released its much-anticipated Taxation Ruling on central management and control test of residency. TR 2018/5 covers the circumstances in which a foreign-incorporated entity may be an Australian tax resident, together with draft Practical Compliance Guideline (PCG 2018/D3). This follows the High Court’s recent decision in the Bywater case…
On 9 July 2018, the Board of Taxation (BoT) made public its August 2017 report to the Government, Review of the Income Tax Residency Rules for Individuals. on the same day, Minister for Revenue: Kelly O’Dwyer requested that the Board of Taxation undertake further consultation with regard to its recommendation to introduce a new set of…
A taxpayer has been successful before the Federal Court when it argued that interest on overpaid GST accrued from the day on which the GST ‘surplus arose’ under the relevant definition: ‘RBA interest day’ s12AA, s12AD & s12AF of the Taxation (Interest on Overpayments and Early Payments) Act 1983 (Overpayments Act). This sounds boring, but…