Daily Archives: November 26, 2018

3Bears Childcare Centre Pty Ltd v DCT – Taxpayer sought to review Registrar’s decision not to set aside the ATO’s Statutory Demand but failed as the original application was too late

The Federal Court has dismissed an application by a company seeking to review a Registrar’s decision refusing to set aside a statutory demand to pay $538,685. The Statutory Demand had been issued the Deputy Commissioner of Taxation (DCoT), in respect of liabilities claimed to be owing, for running balance account deficit debts and unpaid superannuation…

DCT v Morando – No stay order for $1.8m tax debt recovery against ‘bikie’ – despite gruelling facts the taxpayer did not put on sufficient evidence of objection merits or extreme hardship without stay

A taxpayer has been unsuccessful in seeking either an adjournment or stay order for matter involving a $1.8 million tax debt. The facts were these. The tax-related liabilities, the subject of this recovery action resulted from default assessments to the Taxpayer’s 2009 to 2014 tax years, based on an assets betterment approach. The Taxpayer was…

LCR 2018/9 – on ‘downsizer contributions’ to Superannuation Funds – 65+ owners of ‘main residences’ owned for 10 years, selling under post 30.6.18 contracts and making contributions up to $300k within 90 days of settling

On 7 November 2018, the Commissioner issued Law Companion Ruling: LCR 2018/9 on the application of the recently enacted ‘downsizer contributions’ to Superannuation Funds – being contributions of up to $300,000 from the sale of a persons (or their spouses) interest in a main residence. This measure was introduced in Schedule 2 to the Treasury Laws…

Labor Government would give the ATO the power “name and shame” directors of phoenix companies & GSEs in Part IVA (by ‘disallowable instrument’) and apply to ASIC for disqualification of relevant directors

Shadow Assistant Treasurer Andrew Leigh has announced that, if elected, a Labor Government would “name and shame” directors of phoenix companies – those illegally/fraudulently ‘phoenixed’ – where directors and/or others deliberately leave companies unable to pay their obligations to employees and respective governments (which is estimated to cost the Australian economy as much as $5.1…

Inspector-General of Taxation retired, Deputy: Andrew McLoughlin is acting IGT – IGT has absorbed Tax Ombudsman’s role, letting ‘individual’ complains inform the ‘systemic’ and vice versa

On 5 November 2018, Mr Ali Noroozi retired from the role of Inspector-General of Taxation – after having acted for 2 terms of 5 years and having seen in many significant development, but perhaps none less than absorbing the Tax Ombudsman’s role (individual complaints) with its ongoing role, which is investigating and reporting on ‘systemic’…