From 5pm on Thursday 12 August 2021, the Australian Capital Territory went into a Covid-19 based ‘lockdown’ (like the rest of its Eastern Seaboard neighbours) – for 7 days. The following day the Federal Treasurer announced a jointly Federal and Territory funded Covid relief package, along the lines of those announced for NSW, Vic &…
On 3 August 2021, Treasury released its estimates the direct economic costs of the COVID‑19 management strategies modelled by the Doherty Institute, through analysis of the direct impacts of activity restrictions and lockdowns used to manage the virus and contain outbreaks. And the result is that lockdowns are economically cheaper, too (it seems that State &…
Australian liquidator John Sheahan has launched new legal action in Israel against members of the Binetter family which if successful would lift the total he has realised from tax fraud claims to nearly a quarter of a billion dollars. See below for further article [Tax Month – August 2021] AFR Senior Writer: Neil Chenowith…
The AAT has decided that a payment made to the taxpayer, in settlement of a court case against his former employer, was not for loss of earning capacity but only for loss of earnings and was an ‘eligible termination payment’. See below for further details. [Tax Month – August 2021] The facts were these.…
A company was denied ‘JobKeeper’ payments in respect of staff who transferred from another group company, despite ATO advice that a new employer can have ‘eligible employees’, but, the company was also a new company (part of a corporate restructure) and was not in existence, on the key 1 March 2020 date. See below, for…
One basic maxim of tax policy is “tax luck but don’t tax hard work”. Another is “broad bases, low rates”. And yet we don’t. With that introduction the Director of the Tax and Transfer Institute (Crawford School, ANU) Robert Braunig, introduces a smorgasbord of the Institute’s latest offerings. See below for further details. [Tax Month –…
T a x T e c h n i c a l – M o n t h l y N e w s – August 2021 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…
A taxpayer has been refused an extension of time to lodge objections as he would have little prospect of success. See below for further details. [Tax Month – July 2021] The Facts were these. The taxpayer’s duties required him to travel to, and stay overnight at, various locations in rural Queensland. He was…
This article has a round-up the Federal Legislative Tax Program as at 29 July 2021 including Acts, Bills, exposure drafts, consultations, reviews and ATO guidance. See below for further details. [Tax Month – July 2021] The attached round-up covers the following. Key Acts enacted prior to December 2020 Key Acts enacted since December…
The Federal Court has ruled that Tidswell Financial Services Ltd breached s 912A(1)(a) of the Corporations Act 2001 by failing to act efficiently, honestly and fairly when providing financial services under its AFS licence in relation to a super fund by outsourcing and failing to prevent misrepresentations. See below for further details. [Tax Month – July…