Monthly Archives: February 2020

Financial Accountability Regime will extend ‘BEAR’ to APRA regulated super trustees (RSE licensees) – Treasury proposal paper released – submissions due 14 February 2020

On 22 January 2020, the Treasurer released a ‘Proposal Paper’ on extending the Banking Executive Accountability Regime (BEAR) to all APRA-regulated entities (including superannuation RSE licensees), as recommended by the Banking Royal Commission – recommendation 3.9). See below for details. [Tax Month – January 2020]

ACN 154 520 199 Pty Ltd (In Liq) v CofT – Taxpayer appeals Gold ‘refining’ GST case to the Federal Court

By 28 January 2020, The taxpayer had appealed to the Federal Court against the decision in ACN 154 520 199 Pty Ltd (In Liq) v CofT, which was decided on 20 December 2019. See below for further detail [Tax Month – January 2020]

Burton v CofT – taxpayer seeks leave to appeal to the High Court on being denied full foreign tax credits for US tax on a capital gain

In Burton v CofT – taxpayer has applied to the High Court for special leave to appeal the Full Federal Court decision, denying him full foreign tax credits for US tax on a capital gain. See below for further details. [Tax Month – January 2020]  

CPI: December quarter 2019 index number – a 0.8 increase from the September 2019 quarter and annual increase of 1.8% to December 2019

On 29 January 2020, the Australian Bureau of Statistics (ABS) released its CPI index numbers, which affect various taxation provisions. See below for further detail. [Tax Month – January 2020]

‘Genuine Redundancy Payment’ tax concession ruling updated to cover amendments extending eligibility from age 65 to pension age

On 29 January 2020, the Commissioner issued an addendum to his ruling on ‘genuine redundancy payment’ concessions, for the amendments extending eligibility for this concession from age 65, to pension age (which can often be older than this). See below for further detail. [Tax Month – January 2020]