The ATO released the synthesised text of Australia’s double taxation agreement (DTA) with Denmark on 29 October 2021. It outlines the modifications that have been made to the DTA by the Multilateral Convention to Implement Tax Treaty Measures to Prevent Base Erosion and Profit Shifting (MLI). The dates of the deposit of instruments of ratification, acceptance or…
Employment taxes present a uniquely interlocking web of State and Federal obligations, that continue to present increasing challenges. At the same time, it is becoming increasingly more difficult to resolve complex issues, whether with the tax authorities or through legislative change, where required. In addition to these challenges, we are also simultaneously on the cusp…
On Wed 3 Nov 2021, the High Court overturned an assessment of a British taxpayer’s assessment under what is colloquially known as the ‘backpacker tax’ because it it imposes tax, at special rates, on taxpayers with a working holiday visa – but critically, here, at higher rates of tax on backpackers who succeed in becoming…
A Canberra developer has had some success in an appeal in relation to an action brought for misleading or deceptive conduct involving the sale of a unit in the ACT, which the developer incorrectly claimed was subject to GST. The developer obtained land under a 99-year lease. It then developed properties which it allegedly marketed as…
On 29 Oct 2021, the AAT decided that Interest earned on a foreign bank account was assessable as the taxpayer was an Australian resident (and this was published on 2.11.21). This is unremarkable but the facts were complicated by ‘exchange’ date/rate issues (on the interest receipts) and exchange rate losses on the loan balances. The…
The High Court has held, on Wed 3.11.2021] that applying the so-called “backpacker tax” to wages earned by a UK national who was a tax resident of Australia contravened a non-discrimination clause in the Australia-UK DTA, thereby allowing the taxpayer’s appeal (see related TT article). Ms Addy was a UK national who arrived in Australia…
On 3 November 2021, the High Court of Australian held for the taxpayer, in finding that the ‘Backpacker Tax’ contravened the ‘no-disadvantage’ requirement, for British nationals, under the Australian-United Kingdom Double Tax Agreement. The taxpayer was an Australian tax resident for the two years of her working holiday, under the relevant visa, and as a…
Over the past 24 hours, the Victorian Bar has become aware of a bill to amend the Public Health and Wellbeing Act 2020 (PHW Act) in respect of, amongst other things, pandemic management. The Public Health and Wellbeing Amendment (Pandemic Management) Bill 2021 (Bill) has been made available on the Parliament of Victoria website only this…
On Tuesday 26.10.2021, the House of Representatives Standing Committee on Tax and Revenue released a report entitled 2018-19 Commissioner of Taxation Annual Report. The terms of reference were that the Committee was to inquire into and report on the ATO’s 2018-19 Annual Report – however, the report’s recommendations are focused on the administration of the…
Windfall Gains Tax and State Taxation and Other Acts Further Amendment Bill 2021 Victoria Legislation 12/10/2021 On Tues 12.10.21, the Victorian Treasurer issued a media release summarising the Bill he was about to introduce to enact the proposed windfall gains tax. It also summarised the Bill. It will (broadly) be a 50% flat tax on…