Treasury has released a document, released under Freedom of Information, relating to a Board of Tax, call it had the UK Her Majesty’s Revenue and Customs (HMRC) in October 2016, relating to their experience with their move to a ‘Statutory Rules Test’ for residency of individuals in the UK. [See Tax Technical – Tax Article] This is…
On 14 September 2018, Treasury released a document, under Freedom of Information law, relating to a Board of Tax Residency call it had with UK HM Revenue and Customs (HMRC) in October 2016 relating to English change to ‘Statutory Rules Test’ for residency of individuals. I have reproduced the document, in full, below, for historical reference. FJM…
On 21 September 2018, the Shadow Assistant Treasurer: Mr Andrew Leigh, announced that a Labor Government would clamp down on unsubstantiated allowances for travel to tax havens and target ‘passport shopping’ through measures raising more than $9 million over the forward estimates”. Travel Allowances to Tax Havens: Mr Leigh said that under Australian tax law, a company…
A resources company has failed to satisfy the AAT that various activities, in connection with a project to develop an Underground Coal Gasification Pilot Plant, were “R&D activities” and therefore, it was not entitled to the R&D tax incentive. The taxpayer was a company in the Australian resources sector. It sought to have various activities registered…
The European Commission spectacularly determined that Ireland had given Apple illegal ‘State aid’ almost 2 years ago (reported by Reuters on 27.9.2016). The Commission ordered Ireland to recover the enormous sum of €13.1b plus interest (now €1.2b). I covered this in the Tax Technical article appearing in the September 2016 Tax Month. Ireland, however, sided with Apple, defending the…
The GST Act and TAA now require even more non-residents to interact with the ATO, and it has created the ‘AUSid’ system as portal for these interactions. The ATO says AUSid is a simple and secure way for overseas limited registered entities that transact with Australia and are registered for GST to report and pay…
The House of Reps Standing Committee on Economics will hold an inquiry into the implications of removing refundable franking credits. Labor had proposed such a policy in an announcement in March 2018, which I covered in the following Tax Technical article. I have extracted the key aspects of this policy, below. So the inquiry clearly has the…
On 20.9.18, the Government introduced the Treasury Laws Amendment (Black Economy Taskforce Measures No 2) Bill 2018 in the House of Representatives and on 17 Oct 2018, it the Lower House and moved (the next day) to the Senate. The Bill proposes: to insert a new s26-105 into the ITAA 1997 that will deny an income tax…
On 20.9.2018, the Government introduced the Treasury Laws Amendment (2018 Measures No 5) Bill 2018 in the House of Reps It proposes the following amendments: AMIT technical amendments – would amend the TAA, ITAA 1997, ITAA 1936, and other Acts to make a number of technical refinements to the income tax law so that the new…
On 20.9.2018, the Government introduced the Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018 was introduced in the House of Reps. It proposes a number of changes: Non-concessional MIT income – amends the ITAA 1997, the ITAA 1936 and the TAA to improve…