On 6 February 2020, the AAT decided that certain of the taxpayer’s activities were not ‘core’ R&D activates, but rather normal prospecting. See below for a summary of the case. [Tax Month – February 2020] A coal mining company has failed to convince the AAT that certain activities designed to make extracting coal…
T a x T e c h n i c a l – M o n t h l y N e w s – March 2020 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 ______________________________________________________________________________ …
On Thursday 6.2.20, the Governor-General made the Income Tax Assessment Amendment (Exploration for Minerals) Regulations 2020 and one day later, they were registered on the Federal Register of Legislation and took effect – to increase the s418-103(1)(d) amount by $5m. See below for an explanation of how this affects junior explorers. [Tax Month – February 2020]