Instrument to extend Director ID transition period, for new directors, to match existing directors – 4 Nov 2021 to 30 Nov 2022

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The Government registered 2 legislative instruments on 29 April 2021 relating to the director identification regime, extending the time directors need to register so that it is now form 4 April 2021 to 30 November 2022 – beware, this is all current and future directors. See below for further details. [Tax Month – April 2021]    …

Cof T v Apted (Retrospective ABN start date JobKeeper decision) – ATO issues Decision Impact Statement accepting thrust of decision and amending PS LA 2020/1 accordingly

Tax Month - April 2021

On 29.4.21, the ATO issued a Decision Impact Statement (DIS) on the JobKeeper case: CofT v Apted, where the Full Federal Court upheld an application for an ABN, with a retrospective start date, prior to the 12 March 2020 date, was effective. The Commissioner recognises the broad effect of the decision and has amended his…

Coal of Queensland Pty Ltd v Innovation and Science Australia – R&D: surveys and drilling activities by coal miner not ‘core R&D activities’ or ‘supporting R&D activities’ – appeal dismissed

Tax Month - April 2021

On 23.4.21, the Full Federal Court has upheld a decision that certain activities designed to make extracting coal from particular deposits commercially viable were not “core R&D activities” or “supporting R&D activities” for R&D income tax purposes. The High Court dismissed the taxpayer’s appeal (see related TT article). See below for further details. [Tax Month…