Key News Summary: On 5.12.18, the Senate passed the Treasury Laws Amendment (2017 Enterprise Incentives No 1) Bill 2017 with a Government amendment that would remove the schedule, under which taxpayers would have been able, to to self-assess the ‘effective life’, of in-house software and various intellectual property assets, held from 1 July 2016. This…
Key News Summary: The Senate passed the Treasury Laws Amendment (2018 Measures No 4) Bill 2018, on Wed 5.12.2018, with amendments moved by the Government. The amendments were to add further DGRs and extend the time in which deductions can be made to another DGR. The Bill must now return, to the House of Representatives,…
Key News Summary: The ATO issued LCR 2018/D8 to explain and support the amendments requiring ABN holders to now report payments made, on or after 1 July 2019, to sub-contractors for: road freight services; security, investigation or surveillance services; and information technology (IT) services, provided on their behalf. This draft Ruling describes how the…
Key News Summary: The ATO issued Taxation Determination TD 2018/16, on Wed 5.12.2018, ruling that payments made, under the National Redress Scheme to victims of institutional child sexual abuse, are not taxable. Ruling 1. If an application made under the National Redress Scheme for people who have experienced institutional child sexual abuse (Redress Scheme)…
Key News Summary: PCG 2018/D3 as been finalised as PCG 2018/9 extending the ‘non-audit’ period to 30 June 2019. This PCG gives practical guidance on the ‘central management and control’ (CM&C) issue for company tax ‘residency’ purposes. On Wednesday 5 December 2018, the ATO finalised PCG 2018/D3 – merely extending the ‘non-audit’ period from 13 December 2018 to 30 June 2019 (in…
The Statutes Amendment and Repeal (Budget Measures) Bill 2018 received Assent on 22 November 2018 as Act No 35 of 2018. It contains amendments to give effect to certain revenue measures announced in the 2018 South Australian Budget. The Bill contains a number of state revenue measures including: Third Party Reporting; Payroll Tax; Stamp Duty; and Land…
The Revenue Laws Amendment Bill 2018 was introduced in the WA Legislative Assembly on 29 November 2018. It contains amendments to the Duties Act 2008, Land Tax Assessment Act 2002 and Pay-roll Tax Assessment Act 2002. These amendments propose to address significant duty leakage, ensure certain taxpayer exemptions and concessions apply correctly, and improve the efficiency of…
The Qld Civil and Administrative Tribunal has effectively refused an application by taxpayers for exclusion orders that would have created 4 separate groups for payroll tax purposes. ‘Groups’ are relevant in payroll tax because there is a substantial tax free amount of wages that don’t attract tax, and payroll tax could be avoided by carrying…
This is a case about the the collection of NSW payroll tax and the Chief Commissioner’s use of the Statutory Demand procedure in the Corporations Act 2001. The issue was whether an estoppel can extend (or alter the start date) for a statutory time period – in this case, the 21 days, in which a…
The State Revenue Office of Victoria (SRO) has advised that ‘notifications’ due on 15 January 2019, for the following Victorian taxes: The vacant residential land tax – a tax imposed on the owners of land (in 16 Council areas), if that land has been relevantly ‘vacant’ for more than 6 (non-continuous) months in the preceding year.…