The AAT has confirmed that a special dividend paid by BHP was assessable in the taxpayer’s hands. The taxpayer was self-represented and a shareholder in BHP Group Limited. Following the sale of some of its onshore US assets and an off-market share buy-back, BHP decided to pay a special dividend, representing the residual US$5.2 billion net…
The Federal Court has ruled that a lecturer engaged by a company to provide higher education courses was an “employee” for Super Guarantee purposes, and not an independent contractor, as his right to sub-contract the teaching services was limited and required consent. This case considers the ordinary meaning of ’employee’ issues recently decided by the…
Superannuation calculators and retirement estimates may involve personal financial advice. ASIC gives class order relief from Australian financial services (AFS) licensing and personal advice requirements in the Corporations Act 2001 for providers of these tools. The new relief for superannuation calculators and retirement estimates is set out in ASIC (Superannuation Calculators and Retirement Estimates) Instrument 2022/603.…
The ATO and the Integrity Commission issued a joint media release on 5.7.22 saying that two individuals – one a former ATO employee and the other, the person alleged to have paid a bribe, faced Parramatta Local Court on 5 July 2022 in relation to alleged corruption offences as part of Operation Barker (the ‘Integrity Commission’…
T a x T e c h n i c a l – M o n t h l y N e w s – July 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 ______________________________________________________________________________ …
The ATO updated its web guidance on their approach to gathering information at the same time as releasing its finalised ‘Protocol’ for taxpayers claiming Legal Professional Privilege (LPP) – see related TT Article. This covers informal/cooperative information gathering; mandatory information gathering and gathering information off-shore. The details are set out below. Our approach to…
In late June 2022, the ATO finalised its ‘Protocol’ for taxpayers, and those acting for them, to claim ‘legal professional privilege’ (LPP) over the various kinds of communications it attaches to – which I’m covering in this article. This is an important topic, as such communications cannot be the subject of the Commissioner’s mandatory rights…
In late June 2022, the ATO finalised its ‘voluntary’ Protocol for claiming legal professional privilege (LPP) – see related TT article. It had conducted ‘consultation’ on the draft Protocol it issued back in September 2021. At the same time as releasing its final Protocol, it released a ‘compendium’ of the points raised in various submissions…
In late June 2022, the ATO finalised its ‘Protocol’ for taxpayers claiming ‘legal professional privilege’ (LPP) – see related TT article. The issue of the draft Protocol, its finalisation, and the surrounding issues, created quite a bit of ‘heat’ (see related TT article). The ATO consulted on the issue of the draft Protocol, and released a ‘compendium‘…
On 22 June 2022 (or thereabouts) the Commissioner of Taxation finalised and released his ‘Protocol’ on taxpayers, and others on behalf of taxpayers, claiming Legal Professional Privilege (LPP). This protocol, and the issues around it, have generated a lot of ‘heat’ over the last year or so. I thought it might be helpful to gather…