Daily Archives: January 4, 2019

CofT v Cassaniti – Full Federal Court affirms PAYG amounts were “withheld” from salary or wages and the employee was entitled to tax credits under s18-15 of the TAA53

The Full Federal Court has confirmed that PAYG amounts were “withheld” from a taxpayer’s salary or wages so that she was entitled to a tax credit, despite the amounts never being remitted to the ATO by her employers. The taxpayer was employed by 3 companies over the relevant years which provided her services as an…

EU compromise on ‘temporary’ digital tax blocked by group of European countries as 4 December 2018 deadline looms – whilst various states introduce their own or are getting ready to

The EU has been considering a temporary turnover tax on the revenues of large companies’ turnover from certain digital supplies, whilst waiting for a more permanent solution to arise out of the ‘Base Erosion and Profit Shifting (BEPS) project running under the auspices of the OECD and G20. Indeed, the UK announced a 2% version…

Decision Impact Statement on Aussiegolfa case – non-arm’s length tenant, did not breach SMSF’s s62 ‘sole purpose test’ but ‘in-house asset’ test breached because the Sub-Trust was the relevant ‘fund’ for ‘related party’ definition purposes

On Monday 3.12.18, the ATO issued a Decision Impact Statement (DIS) on the Full Federal Court’s decision in Aussiegolfa Pty Ltd (Trustee) v FCT [2018] FCAFC 122. Aussiegolfa was the trustee of an SMSF, that invested in a publicly offered managed investment scheme: the DomaCom Fund. This ‘Master Trust’ provided for classes of unit holder,…