On 3 May 2019, the ATO updated one of its website pages: ‘Tax crime prosecution case studies’. It gives details of: a company director who failed to lodge 5 activity statements (fined $51,500). 5 employees who falsely claimed work related ‘drive in, drive out’ travel expenses, despite them having been reimbursed (aggregate fines over $50,000).…
On 8 May 2019, the ATO distributed a list of subjects, where advice is ‘under development’. They include, income tax, international, CGT, consolidation, trust, GST, excite, FBT, superannuation, not-for-profit sector, and administration issues. See below for the full list and relevant links. FJM 8.5.19 [Tax Month – May 2019]
The High Court has given Gina Rhinehart orders binding her children to have their claims dealt with by confidential mediation and it has given her children orders that their companies’ claims be dealt with in that mediation. This is not tax, but it’s so topical, I thought it worth noting. The decisions and the citation…
On 5th March 2019, Assistant Treasurer Robert announced an independent review into the effectiveness of the Tax Practitioners Board, and the operation of the Tax Agent Services Act 2009 and the Tax Agent Services Regulations 2009, which establish the regulatory regime for tax practitioners in Australia, to consider whether the legislative and governance framework for…
The taxpayers have appealed to the Full Federal Court from the decision of Thawley J in Paule & Ors v CofT [2019] FCA 394. The Federal Court had held that a capital gain made on the sale of shares following a series of roll-overs was not a discount capital gain, as the shares were not deemed…
The taxpayer has withdrawn and discontinued her appeal to the Full Federal Court from the decision of the AAT in Ransley and CofT [2018] AATA 4359. The AAT had decided that the profit on the sale of shares in a mining company was assessable income and not, as contended by the taxpayer, a capital gain.…
On 3 May 2019, Industry Super Australia, released a report entitled: ‘Super Scandal – unpaid Super Guarantee in 2016-17. It reported that analysis shows since the first ISA analysis of ATO data in 2013/14, the number of workers short-changed super has climbed by 90,000 to a total of 2.85 million Australians being ripped off $5.94 billion…
On 3 May 2019, a notice was published in the Federal Government Gazette (C2019G00400) specifying the repayment incomes and repayment rates for the Higher Education Loan Program (HELP) for the 2019-20 income year. It has been made under the Higher Education Support Act 2003. The minimum repayment income for the 2019-20 income year is $45,880. See…
On 17 April 2019, the New Zealand Government released its respond to the recommendations of the independent Tax Working Group report. The Government is not adopting any of the recommendations on capital gains taxation and has agreed no further work is necessary on that aspect of the report. See below for the responses. [Tax Month –…
On 25 April 2019, the OECD released the tenth edition of its publication: the OECD Model Tax Convention on Income and on Capital. This full version contains the full text of the Model Tax Convention as it read on 21 November 2017, including the Articles, Commentaries, non-member economies’ positions, the Recommendation of the OECD Council, the…