Yearly Archives: 2021

The Buddhist Society of Western Australia Inc v CofT (No 2) – decision to revoke ‘school building fund’ DGR status set aside, under ADJR part of action (failed under Part IVC)

On 4.11.21, the Federal Court rejected the ATO’s interpretation of the word “school” in setting aside an ATO decision disallowing the Buddhist Society of Western Australia’s objection to a decision to revoke its status as a deductible gift recipient as a ‘school building fund’. The Buddhist Society of Western Australia (“the Society”) was endorsed as…

High Court overturns 3 decisions of new High Court tax judge when he was a Federal Court judge

High Court judge Simon Steward has had a rocky start to his new job, with his colleagues overruling him in a series of tax cases from his time on the Federal Court. Justice Steward, who was lauded as a revenue law expert when he took up his seat on the court in December, has had…

The Public Health and Wellbeing (Pandemic Management) Bill 2021 – Dan’s dangerous ‘overreach’ pandemic powers – The Victorian Bar’s submissions

Summary of Victorian Bar’s Submission to The Department of Health and Expert Reference Group on The Public Health and Wellbeing (Pandemic Management) Bill 2021 The Victorian Bar has provided a submission to the Department of Health and an Expert Reference Group following a briefing on 3 November 2021 in relation to the Public Health and…

New Federal Jurisdiction for the Magistrates’ Court of Victoria – following ‘Meringnage’ case denying VCAT federal jurisdiction because it is not a ‘court’ (17.11.21 Webinar)

A new civil federal jurisdiction will begin operating shortly at the Magistrates’ Court of Victoria (MCV). This jurisdiction will hear some applications previously heard by VCAT. The change follows a Court of Appeal ruling in Meringnage v Interstate Enterprises & Ors [2020] VSCA 30. The Court found that VCAT is not a court of a state, meaning it cannot…

Super ‘choice’ of investments sector: APRA information paper reveals underperformance and extension of its ‘Heatmap’ product to this sector

APRA has published an Information Paper on the performance of choice superannuation products ahead of its first Choice Product Heatmap to be released in late 2021. APRA said the Choice Heatmap will be an important pre-cursor to the annual performance test for trustee-directed products that will be applied from 1 July 2022. APRA said the paper has highlighted…

Southern Global Group Pty Ltd and FCT – Taxpayer fails to prove bank deposits were loans (GST)

A taxpayer has failed to discharge its onus to prove that amended GST assessments were excessive or otherwise incorrect in respect of unexplained bank deposits. The taxpayer’s main business activity was described as “management consulting services”. The ATO considered that unexplained bank deposits were unreported consideration for taxable supplies. The taxpayer contended they related to…

Sibai v CofT – Taxpayer loses appeal on scope of his ‘onus of proof’ – it was not limited to just the amendment amounts

On 3 Nov 2021, the Federal Court has upheld an AAT decision rejecting the taxpayer’s contention that he was required to prove only that discrete amounts of additional assessable income included in amended assessments were not assessable. The taxpayer sought judicial review of the AAT’s decision, contending that the AAT had no jurisdiction to consider any…

CPI: September quarter 2021 index number 0.8% higher than June (3% annual)

The Australian Bureau of Statistics (ABS) has released the CPI index number of 119.7 for the September quarter 2021 (up from 118.8 for the June 2020 quarter). The CPI rose 0.8% for the September 2021 quarter. The most significant price rises were for New dwelling purchases by owner-occupiers (+3.3%) and Automotive fuel (+7.1%). Over the year to the September 2021 quarter, the CPI is…

Crypto-asset related investment products: ASIC regulatory guidance

On 29 October 2021, ASIC released information for product issuers and market operators on how they can meet their regulatory obligations in relation to crypto-asset exchange traded products (ETPs) and other investment products. The information covers good practices for market operators in how they admit and supervise these products, and good practices for product issuers in…

Second Commissioner of ATO appointed – Kirsten Fish (Chief Tax Counsel and acting 2nd Commissioner)

On 28 October 2021, the Assistant Treasurer announced the appointment of Ms Kirsten Fish as a Second Commissioner of the ATO for a seven-year period. Ms Fish has been acting as Second Commissioner in the Law Design and Practice Group at the ATO for the past 12 months. She is Chief Tax Counsel at the ATO and…