2020 - Page 21 of 29 - Tax Technical

ATO comments on the BHP Billiton case – High Court’s decision confirming that sister subsidiaries in a ‘dual listed’ group are ‘sufficiently influenced’ and therefore ‘associates’ for tax purposes

Tax Month - March 2020By John Morgan March 12, 2020

On 11 March 2020, the ATO posted an article noting that the High Court had upheld its position that BHP was taxable on all of it’s share of the income from its marketing hub and welcoming that decision – BHP Billiton Limited v Commissioner of Taxation [2020] HCA 5 (see related TT article, also). The ATO makes some…

BHP Billiton Limited (BHP Group Ltd) v CofT – High Court upholds Commissioner’s CFC attribution assessment of the whole of Australian Dual Listed’ entity’s share of its Marketing Hub’s income – the UK Dual Listed’s subsidiary suppliers were ‘associates’ because they were ‘sufficiently influenced’

Tax Month - March 2020By John Morgan March 11, 2020

On Wed 11 March 2020, the High Court dismissed an appeal from a decision of the Full Court of the Federal Court of Australia – upholding CFC ‘attribution’ assessments on with whole of the Australian ‘dual listed’ entity’s share of the Marketing Hub ultimately owned by the Australian and UK dual listed entities. The High…

Dobie v CofT – Taxpayer not entitled to input tax credits – lack of documents, on NewStart, not entitled to be registered for GST and 25% penalty correctly imposed

Tax Month - February 2020By John Morgan March 9, 2020

In a 31 January 2020 decision (reported 26.2.20) the AAT held that a taxpayer had failed to prove that he made creditable acquisitions and therefore he was not entitled to input tax credits (ITCs). See below for a summary of the decision. [Tax Month – February 2020]

Schiele v CofT – German working holiday maker not a resident for tax purposes

Tax Month - February 2020By John Morgan March 9, 2020

On 24 February 2020, the AAT upheld the Commissioner’s objection decision, which was based on denying a German working holiday maker ‘resident’ status in Australia. See below for a summary of the case. [Tax Month – February 2020]

Delays in ATO processing GST property credits – two errors ATO is seeing from lawyers and conveyancers that are contributing to this

Tax Month - February 2020By John Morgan March 9, 2020

In January 2020, the ATO advised of two common errors they were seeing from lawyers and conveyances, that were holding up the processing of GST property credits. See below for details. [Tax Month – February 2020]

Directors Penalty Notice (DPN) regime commences to apply to GST etc on 1 April 2020 – K&L Gates FAQs

Tax Month - February 2020By John Morgan March 9, 2020

K&L Gates lawyers, have issued a newsletter reminding readers that, from 1 April 2020, company directors will be personally liable for any unpaid GST, luxury car tax (LCT) and wine equalisation tax (WET), in addition to the pay as you go withholding (PAYGw) and superannuation guarantee contributions (SGC) debts, that are already captured under the current…

Self-managed superannuation fund (SMSF) investment strategy – ATO guidance

Tax Month - February 2020By John Morgan March 9, 2020

On 17 February 2020, the ATO updated its guidance on SMSF’s guidance on ‘investment strategies’, covering what needs to be in it; what restrictions are there, on investments; the role of ‘diversification’; what ‘giving effect to’ that strategy means; how often the strategy ought be reviewed; what is the auditor’s role in the Fund’s investment…

Government remains committed to increase the SMSF member limit from 4 to 6 but also to increased flexibility measures for members from 65 to 70 years of age

Tax Month - February 2020By John Morgan March 9, 2020

Speaking at the SMSF Association National Conference on the Gold Coast on 19 February 2020, Assistant Minister for Superannuation: Senator Jane Hume, said it remains Government policy to enact this change from 4 to 6 maximum SMSF members, but it will be progressed in line with the Government’s other legislative priorities. See below for further details. [Tax Month…

Superannuation – canvassing the very current issue of whether the SGC minimum employer contributions should continue to increase to 12% and other suggestions to increase employee engagement with super

Tax Month - February 2020By John Morgan March 9, 2020

On Friday 21 February 2020, the Tax Institute’s Senior Tax Counsel: Bob Deutsch, published an article in the Institute’s weekly Tax Vine (No. 6 of 2020) entitled: Superannuation – too much or not enough? This canvasses the very current issue of whether the SGC minimum employer contributions should continue (as currently legislated) to increase to 12%…

OECD releases a report on Transfer Pricing Guidance on Financial Transactions

Tax Month - February 2020By John Morgan March 9, 2020

On 11 February 2020, the OECD released a report on Transfer Pricing Guidance on Financial Transactions. This is significant as it is the first time the OECD has issued guidelines on this type of transactions. See below for details. [Tax Month – February 2020]

Yearly Archives: 2020