On Thur 20.1.2022, the ATO released a Decision Impact Statement (“DIS”) in relation to MJ and IT Holdings Pty Ltd and FCT [2021] AATA 3250. In that case, the AAT found that MJ and IT Holdings Pty Ltd was not entitled to the cash flow boost (“CFB”) in respect of an amount paid to its…
On Thur 20.1.2022, the Government released for consultation the draft Industry Research and Development (clinical trials, Phase 0, I, II, III for an unapproved therapeutic good) Determination 2021. This is relevant for the development of medical products (particularly new products). By way of background, to register for the R&D tax regime, companies must conduct or…
On 17.12.2021, The Tax & Transfers Public Institute posted an article by Christine Peacock entitled ‘What does it take to make a house new?’ Citing her peer reviewed article, she advocates a statutory solution based on the system in Canada. It is based on the cost of the work done, to the residential premises, adds…
20/01/2022 – The OECD released the 2022 edition of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. The OECD Transfer Pricing Guidelines provide guidance on the application of the “arm’s length principle”, which represents the international consensus on the valuation, for income tax purposes, of cross-border transactions between associated enterprises. In today’s economy…