T a x T e c h n i c a l – M o n t h l y N e w s – August 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 ______________________________________________________________________________ COMPILING…
The Tax Institute’s weekly tax newsletter: TaxVine (No. 29, 31.7.20) carried an article by its Director of Tax Policy and Technical’s Report: Mr Andrew Mills, entitled: “Advocating for members through consultation”. This looks at the various consultation forums established by the ATO and the role Institute members play – in advocating for change under the Institute’s…
On 29 July 2020, the Australian Bureau of Statistics (ABS) has released the CPI index number of 114.4 for the June quarter 2020, showing a -2.2 decrease from the March 2020 quarter of 116.6. See below for the tax implications and further detail. [Tax Month – July 2020]
On 10 July 2020, the AAT upheld the ATO’s assessment, deciding that a beneficiary of a discretionary trust, was not entitled to deductions, for interest he incurred on loans used by the trust to acquire rental properties. See below for details. [Tax Month – July 2020]
The Full Federal Court has ruled that a dentist working under a services agreement was not an employee at common law but was an “employee” pursuant to the extended meaning of that term in s 12(3) of the Superannuation Guarantee (Administration) Act 1992 (SGAA) – which includes persons working under a contract wholly or principally “for”…
On Wed 29.7.20, NSW Treasurer Dominic Perrottet and Minister for Planning and Public Spaces Rob Stokes has issued a joint release announcing that the NSW Government will be introducing a land tax discount for new build-to-rent housing projects until 2040 and a new Housing Diversity State Environmental Planning Policy (SEPP) to provide more housing options to boost construction and…