Daily Archives: August 15, 2018

Stapled structures & other measures: revised draft legislation released – extending measures to agricultural land, changing Thin Cap laws on MIT Staples, limiting foreign super and government concessions, leaving MIT concessions for ‘affordable housing’

On Friday 27 July 2018, Treasury released, for public consultation, the second stage of draft legislation, giving effect to the measures announced on 27 March 2018 that seek to address risks to the corporate tax base, posed by: stapled structures and similar arrangements, as the law currently stands, and limiting access to concessions currently available to foreign…

MSAUS v CofT – ATO explains why it didn’t appeal an AAT decision on the effectiveness of a GST clause (to apply the ‘margin scheme’) which contradicts the Full Federal Court conclusion on the same clause in the South Steyne case

On 26 July 2018, the ATO issued a draft Decision Impact Statement (DIS) on the GST case: MSAUS Pty Ltd v. Commissioner of Taxation [2017] AATA 1408, which defied earlier cases on sale of apartments in the same block, but the Commissioner chose not to appeal. The background facts and GST decisions (common to all the…

TZSX v CofT – AAT upholds Commissioner’s decision to not issue a further ‘departure authorisation certificate’ – security offered was too little and uncertain compared with the $33m tax debt (in dispute)

The AAT has refused a taxpayer’s application for review of the Commissioner’s decision not to issue an extension of a departure authorisation certificate (DAC). On 21 September 2017, the Commissioner issued amended assessments to the taxpayer for the income year ended 30 June 2007 totalling $33.33 million. The Commissioner assessed the tax liability based on the transfer of US$21…