Daily Archives: October 23, 2021

The digital and crypto asset industry- Senate committee’a report makes recommendations including CGT and other tax changes

The Senate Select Committee on Australia as a Technology and Financial Centre delivered its third and final report on 20 October 2021. The Committee took evidence from businesses, industry groups, academics and regulators in relation to the regulation of digital assets in Australia, “de-banking” practices affecting Australian FinTechs and other businesses, and several other issues relating to Australia’s…

GST – Commissioner appeals the STNK gold refining case despite winning the substantive ‘GST-free’ refining issue (to establish Div 165 ‘anti-avoidance’ also)

The Commissioner has appealed to the Federal Court from the AAT decision in STNK and FCT [2021] AATA 3399. The Taxpayer lost the substantive part of the review, but the Tribunal found that the ‘anti-avoidance’ provisions in Div 165 of the GST Act did not apply. It is this aspect of the case that the…

Global Citizen case – ACNC won’t appeal AAT finding that it was entitled to be registered as a PBI case (entitled to deductible donations)

The ACNC has said that it will not be appealing against an AAT decision last month confirming that Global Citizen Ltd is entitled to be registered as a charity under the public benevolent institution (“PBI”) subtype. Global Citizen was registered as a charity under the advancing education subtype, but it wanted to be registered under…