Resource Capital Fund IV LP applied to High Court for leave to appeal against the Full Federal Court decision finding it liable for tax on profits made on shares in an Australian company with an Australian mine and processing plant

Tax Month - May 2019

The taxpayer has applied for special leave to appeal to the High Court from the decision of the Full Federal Court in FCT v Resource Capital Fund IV LP [2019] FCAFC 51. In that case, the Full Federal Court upheld the Commissioner’s appeal in relation to the tax treatment of profits made by two US…

Chartered Accountants’ submission to the Independent Review of Tax Practitioners Board and TASA (includes TPB independence from ATO)

Tax Month - May 2019

On 8 May 2019, Chartered Accountants Australia and New Zealand (CA) made a preliminary submission to the Independent Review of the Tax Practitioners Board (TPB) and the Tax Agents Services Act 2009 (TASA). It sets out a list of 14 things that are NOT working, in Appendix 1. This includes the ‘Interaction between Tax Agent…

Tax Institute’s submission to the Review of the TPB & TASA – suggesting matters to go into their ‘Discussion Paper’ (interface with legal regulation mentioned)

Tax Month - January to April 2019

On 18 April 2019, The Tax Institute (Institute) made a submission to the Independent Review of the Tax Practices Board (Board) and its enabling legislation: Tax Agents Services Act 2009 (TASA). See this related Tax Technical article, covering this review. I made a submission to this review, as did the Law Council of Australia and…