Monthly Archives: June 2019

Re-elected Government’s tax policies taken to the election

On 24.5.19, the Tax Institute’s Tax Counsel: Stephanie Cardes, reported, in their weekly publication: TaxVine, on the tax policies, which the unexpectedly re-elected Government, took to the election. They were few, and set out in the April 2019 budget. See below, for greater detail. FJM 2.6.19 [Tax Month – May 2019]        …

Newly elected Treasurer announces review of the retirement income system, including the interaction of superannuation, government pensions and, potentially, taxation

Treasurer Josh Frydenberg will commission a review of the retirement income system, including the interaction of superannuation, government pensions and, potentially, taxation. This would include a review of the policy of superannuation (deferred remuneration and national savings) and reviewing union influence in Industry Superannuation. See below for the details. FJM 2.6.19 [Tax Month – May…

Tax fugitive tracked down and sentenced to 3 years and 3 months jail (ATO post)

On 31.5.19, the ATO advised that a 56-year-old New South Wales man, Mr Peter Garven, was sentenced in the Sydney District Court to three years and three months jail for fraudulently obtaining and attempting to obtain more than $200,000 from the Australian Taxation Office (ATO), on 30 May 2019. Mr Garven was also ordered to repay…

Racing Queensland Board v CofT – Commissioner appeals decision setting aside SGC assessment – Board doesn’t employ jockeys

The Commissioner has appealed to the Full Federal Court against the decision of Logan J in Racing Queensland Board v CofT [2019] FCA 509. See below for summary of the Court’s decision (the subject of the appeal) FJM 2.6.19 [Tax Month – May 2019]

‘Letters of Engagement’ – Law Council’s submission to the TPB on its 10 page exposure draft of Practice Note TPB(PN) D40/2019 – where it goes too far

On 10 May 2019, the Tax Practitioner’s Board (Board) issued a draft Practice Note TPB(PN) D40/2019 – giving guidance to tax agents, that register with the Board, on status of ‘Letters of engagement’, their relevance, roll and the matters the Board thought relevant to include. On 31 May 2019, the Law Council of Australia (LCA)…

Legal Professional Privilege (LPP) claims – ATO ‘consulting’ on ‘full LPP review’ terms in lawyers’ retainers – lawyers push back on this …

The ATO has been consulting on ‘improving’ lawyers ‘scope of engagement’ agreements – to deal with, what they see, as problems with ‘legal professional privilege’ (LPP) claims. Effectively, they misunderstand who the privilege belongs to, and they presume to influence the terms on which lawyers are retained by clients. This idea got legs in the 30…

The National Tax Liaison Group (NTLG) meeting on 30 November 2018 – ‘Key Messages’ document, including: ATO independent review, Digital economy, black economy, IGT on fraud control, ‘Reporting entities’ and LPP

The National Tax Liaison Group met on 30 November 2018, and subsequent to that, the ATO issued a ‘Key Messages’ document, which covered each of the items, including: Independent Review for entities that are not ‘large’ or ‘small’; Digital economy; Black economy; Inspector-General of Taxation’s Review of Fraud Control Management; and ‘Reporting entities’ and who should prepare General…