MIT ‘cross-staple’ withholding, thin capitalisation ‘double gearing’, foreign super withholding exemption and sovereign immunity Acts passed 5 April 2019

The Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2019; Income Tax (Managed Investment Trust Withholding Tax) Amendment Bill 2018 and Income Tax Rates Amendment (Sovereign Entities) Bill 2018  were passed into law on 5 April 2019, when they received Royal Assent as Acts No. 34,…

Hill v Tax Practitioners Board – tax agent deregistered without a client complaint and refused a stay of the order (read why)

Tax agent Richard Hill applied for a stay of the Tax Practitioners Board’s decision to terminate his registration, for failings in the administration of his own affairs (even though there were no client complaints). See below for further detail about why the TPB took this action and why the AAT refused to grant the stay.…