Yearly Archives: 2019

‘Backpacker tax’ held to be invalid by the Federal Court – based on ‘non-discrimination’ clauses in a number of our key Double Tax Agreements

On 30 October 2019, the Australian Financial Review published an article by Tom McIlroy, titled: ‘Discrimination based on nationality’: backpacker tax ruled invalid. This is about the effect of non-discrimination clauses in various key Double Tax Agreements (DTAs). See related Tax Technical article. See below for the article. FJM 5.12.19 [Tax Month – October 2019]  …

OECD proposes a ‘Unified Approach’ to taxation of multi-national’s income that might well succeed – allowing destination jurisdictions to tax local sales without any physical presence

On Tuesday 15 October 2019, the Australian Financial Review published an opinion piece, by contributor: Grant Wardell-Johnson, entitled: Global tech needs a global tax. There is a path now. This comments on the consultation document issued by secretariat of the OECD’s Task Force on the Digital Economy, for a Unified Approach in modifying the current international…

OECD announces a system for global allocation of taxing rights, to include the local market jurisdiction – it might well get up (anyone remember of the friendless ‘Unitary tax’ in the 1980’s?)

On Friday 11 October 2019, the Australian Financial Review published an article by Tom McIlroy, Global tax rewrite is good news for Australia. This is a really significant development. See below for this article. FJM  3.11.19 [Tax Month – October 2019]      

Glencore transfer pricing victory in the Federal Court – Commissioner appeals his loss

On 7 October 2019, the Australian Financial Review published an article, by Tom McIlroy, entitled: ATO appeals $92m Glencore transfer price ruling. This is a reference to the Federal Court transfer pricing decision, in favour of the taxpayer, by Her Honour Justice Davies: Glencore Investment Pty Ltd v CofT [2019] FCA 1432 on 3 September 2019 (see…

Lex Greensill fights ATO in the Federal Court over $60m in capital gains

On 23 October 2019, the Australian Financial Review published an article by Hannah Wootton and Luke Housego, entitled: Lest Greensill fights ATO over $60m in capital gains. See below, for the full article. FJM 2.11.19 [Tax Month – October 2019]      

Sharpcan Pty Ltd – High Court finds for Commissioner holding that expenditure on ‘gaming machine entitlements’ was capital and not s8-1 deductible or s40-880 amortisable as ‘black hole’ expenditure

On 16 October 2019, the High Court unanimously allowed an appeal from a judgment of the Full Court of the Federal Court of Australia concerning the Commissioner of Taxation v Sharpcan Pty Ltd [2019] HCA 36. This concerns the deductibility, under the Income Tax Assessment Act 1997 (Cth) (“the 1997 Act“), of payments to acquire gaming machine entitlements (“GMEs”) under the Gambling…

Tax Month – October 2019

T a x  T e c h n i c a l  –  M o n t h l y  N e w s – October 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…