In late December 2021, the AAT upheld amendments made out of time on the basis of ‘fraud or evasion’ against a husband, but allowed the appeal of the wife, on the evidence that she was a ‘stay at home mother’ and the unexplained deposits in her accounts beloved to her husband. It upheld penalties of…
Late in December 2021, the AAT decided that the operator of a small gardening business was not entitled to JobKeeper because he got he reregistered for an ABN on 5 Feb 2020 (before 12 march 2020, per r11(6)) had not made a taxable supply as required by r11(8) – for the quarter ended 21 Dec 2019…
Treasury has released exposure draft legislation and a consultation paper proposing changes to the regulatory framework for certain employee share schemes. The changes are intended to make it easier for businesses to create employee share schemes and seek to implement the Government’s 2021-22 Budget proposals. It should be noted that there are no changes to any…
Treasury has released the Treasury Laws Amendment (Miscellaneous Amendments) Rules 2021 (the “Amending Rules”) which make technical amendments to the JobKeeper rules [Federal Register of Legislation – F2020L00419] including a power to pay amounts after 31 March this year. As originally drafted, the Commissioner was unable to make any JobKeeper payments after 31 March 2022 regardless of circumstance. This applied…
The OECD has released detailed rules to assist countries to implement the second of a ‘two pillar’ reform of the international tax rules (addressing ‘digitalisation’ of the economy) – that is: ‘Pillar Two’. This 15% minimum global tax regime was agreed, in October 2021, by 137 countries and jurisdictions under the OECD/G20 Inclusive Framework on BEPS.…
On 24 December 2021, an individual who was both a casual employee and a sole trader could not qualify for JobKeeper as a business participant because she had previously given a nomination notice to her employer and couldn’t withdraw it, to claim as self-employed). The applicant was both a long-term casual employee of her employer and…
The ATO has issued a decision impact statement on the High Court’s decision in Addy v FCT [2021] HCA 34. This case decided that a British citizen (the taxpayer) who held a working holiday visa but who was held to be a resident of Australia was entitled to be taxed at the more favourable rates applicable…
In late December 2021, the AAT found that an individual, who earned income from accepting paying guests in her home, using the AirBnB platform to source bookings, was not carrying on a business and was, therefore, not eligible for JobKeeper payments. Also her reduced receipts were input taxed and didn’t qualify as ‘turnover’ under the ‘decline…
A tax agent has failed to overturn the Tax Practitioners Board’s decision to terminate her registration, although her “ban” was reduced from 5 to 4 years.This was by way of the 6.1.22 decision of the AAT on reviewing the TPB’s decision to deregister the Agent. The facts were these. Ms C was registered as a…
T a x T e c h n i c a l – M o n t h l y N e w s – January 2022 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 ______________________________________________________________________________ …