On 17 August 2020, the Full Federal Court set aside a freezing order so far as it applied to overseas assets because there was ‘no realistic possibility of enforcement’ in those jurisdictions (Hong Kong and China). See below for details. [Tax Month – August 2020]
On 17 August 20920, the Full Federal Court effectively reinstated an AAT decision that the unrelated clients test for the purposes of the personal services income (PSI) rules was not satisfied. This is the ‘LinkedIn’ advertising case, where the Federal Court overturned the initial AAT decision in the Commissioner’s favour. See below for details. [Tax…
On 17 August 2020, ASX listed DomaCom issued a Media Release for the ASX, advising that it had received advice from the ATO that the ‘downsizer’ superannuation contribution concession, can be claimed on proceeds from the sale of partial interest in their home, which can be done using their Senior Equity Release platform. DomaCom lost a…
On 17 August 2020, the ATO posted an article on its website, entitled: “19-year tax fraud probe ends in jail time for scheme promoter”. It tells how the fifth and final promoter of these company stripping schemes was convicted and jailed (just like the other 4). See below for details. [Tax Month – August 2020]
On 18 August 2020, the ATO updated a range of JobKeeper advices it has posted on its website, relating to the addition of an extra date by which an employee has to be employed – for the employer to be eligible for the stimulus benefit. See below for details. [Tax Month – August 2020]