Key News Summary – High Court answered a question off law, finding that the Family Court had the power to order that a wife’s debts owed to the Commissioner of Taxation, could be transferred to the husband but, but it refused to order whether it should be, in this case, as the case was only…
Key News Summary – On 14.12.18, the Government release draft legislation to reform the PRRT, (i) lower the uplift rates from LIBOR+15% points that apply to certain categories of carried-forward expenditure, to LIBOR+5% points, from 1 July 2019; and (ii) remove onshore petroleum projects from the scope of the PRRT. The PRRT is a profit-based…
Key news Summary – Commissioner finally gets a list of Australians who hold Swiss Bank accounts (at least some of them un-named numbered accounts) On Friday 14 12 December 2018, the ATO reported that it had received its first list of all Australians who hold Swiss bank accounts. Deputy Commissioner Deputy Commissioner, Jeremy Hirschhorn, told ABC…