On 23 December 2019, the AAT (McCabe DP) held that the sale price of shares could not be reduced to take account of non-competition clauses included in the contract of sale. See below for a summary of the case. [Tax Month – December 2019]
On 23 December 2019, the AAT (O’Loughlin DP) held that shortfall penalty imposed at the rate of 25% on the basis of a lack of reasonable care was not excessive and there were no grounds for its remission. See below for a summary of the case. [Tax Month – December 2019]
On 23 Dec 2019, the AAT (Britten-Jones DP) held that an amount transferred from a company, to the taxpayer, was a deemed dividend, as the Commissioner contended, and a shortfall penalty was correctly imposed. See below for a summary of the case. [Tax Month – December 2019]
On 23 December 2019, the AAT (O’Loughlin DP) held that Section 99A assessments issued to a trustee on the basis that beneficiaries had effectively disclaimed their entitlement to trust income were upheld, even though the disclaimers were found to be ineffective. See below for a summary of the case. [Tax Month – December 2019]
On 24 Dec 2019, the Federal Court (Logan J) held that an emigrant from Zimbabwe, who left family in Australia but worked in Thailand (and later other countries) for a long time, was not taxable in Australia on his foreign salary, under the Thai DTA. See below for a further summary of the case. [Tax…