Daily Archives: December 2, 2019

Peru-Australia Free Trade Agreement; Indonesia-Australia Comprehensive Economic Partnership Agreement & Free Trade Agreement between Australia and Hong Kong, China – given force of law in Australia

The Customs Amendment (Growing Australian Export Opportunities Across the Asia-Pacific) Bill 2019 and Customs Tariff Amendment (Growing Australian Export Opportunities Across the Asia-Pacific) Bill 2019 have passed all stages without amendment and await Royal Assent. See below for a summary of the effect of these Acts. [Tax Month – December 2019]  

Treasury Laws Amendment (International Tax Agreements) Bill 2019 received Royal Assent as Act No 107 of 2019 – Australian-Israel DTA & new Div 764 DTA deemed source rule

On 28.11.19, On 14 Nov 2019, Treasury Laws Amendment (International Tax Agreements) Bill 2019 received Royal Assent as Act No 107 of 2019. I gives Australian legislative effect to the new Australia-Israel Double Tax Agreement, and introduces a new Div 764 into our domestic law, for DTA purposes. See related Tax Technical article. See below for…

ATO uses additional resources to widen ‘review’ from largest 320 groups to largest 500 & ‘tax assurance resources’ to groups with wealth exceeding $5m or revenue over $10m

On Monday 2 December 2019, the Australian Financial Review published an article by its Political reporter: Tom McIlroy, headed: Rich listers targeted by ATO in cash push – relating to the ATO applying recently increased resources to widen its ‘review’ of the largest 320 private groups to the top 500 – amongst other things. See the…

Tax Month – December 2019

T a x  T e c h n i c a l  –  M o n t h l y  N e w s – December 2019 Edition – Tax developments for tax practitioners by a tax practitioner.   Compiled by F John Morgan A member of the Victorian Bar (www.FJMtax.com) Table of Contents ______________________________________________________________________________   You…