John Morgan is a tax specialist lawyer of more than three decades experience now practicing at the Victorian Bar - w: www.FJMtax.com e: f.john.morgan@vicbar.com.au

Charity sector reform – ACNC Amendment (2021 Measures No 3) Regulations 2021 finalised – new thresholds for ‘small’, ‘medium’ and ‘large’ registered entities

The Australian Charities and Not-for-profits Commission Amendment (2021 Measures No 3) Regulations 2021, was registered on Fri 12.11.2021. It implemented several elements of the Government response to the ACNC Legislation Review. The Regulations amend the Australian Charities and Not-for-profits Commission Regulation 2013 to increase from 2021-22 the annual revenue thresholds used for determining whether a registered entity…

DTA with Chile – synthesised text of ‘Agreement’ after working in the Multi-Lateral Instrument (MLI) common form changes

On Friday 12.11.21, the ATO released the synthesised text of Australia’s double taxation agreement (DTA) with Chile. It outlines the modifications that have been made to the Double Tax Agreement (DTA) by the Multilateral Convention to Implement Tax Treaty Measures to Prevent Base Erosion and Profit Shifting (MLI). See also, TT article on the MLI synthesised…

Vac Corporate Pty Ltd v TPB – Tax agent’s registration suspended for 3-months for ‘recklessly’ saying SMSFs were audited (but conduct needlessly described as ‘dishonest’)

A 3-month suspension imposed on a registered tax agent for dishonesty – telling the ATO SMSF returns had been audited when they hadn’t – has been confirmed by the AAT. In the light of many tax agents suffering disqualification for years, for things less than dishonest, this seems unduly light. But there are reasons. Vac…

Registered Superannuation Entities (RSEs) – Corporations Amendment (Portfolio Holdings Disclosure) Regulations 2021 finalised

The Corporations Amendment (Portfolio Holdings Disclosure) Regulations 2021, registered today [Thur 11.11.2021], prescribe how portfolio holdings of a registrable superannuation entity (RSE) must be disclosed for the purposes of s 1017BB of the Corporations Act 2001. The Regulations detail the way PHD information must be made publicly available and presented consistently with the tables in new…

PCG 2017/2 updated – Simplified transfer pricing record-keeping options: 2021-22 interest rates – 1.83%

On Thur 11.11.2021, the ATO released an updated version of Practical Compliance Guideline PCG 2017/2, which gives eligible entities various simplified transfer pricing record-keeping options, including for low-level inbound and outbound loans. In relation to the inbound loan option, one of the eligibility requirements is that the interest rate for small related party inbound loans…

NSW payroll tax: E Group Security Pty Ltd v NSW State Revenue – security company not liable to payroll tax where security guards not integrated into its clients’ work forces

The Supreme Court of NSW held that the taxpayer was not liable to payroll tax on the amounts it paid, to third party suppliers of persons, under the ’employment agency contract provisions in s37 of the NSW Payroll Tax Act 2007. The taxpayer provided security style services to its clients. The key was that the…

The Buddhist Society of Western Australia Inc v CofT (No 2) – decision to revoke ‘school building fund’ DGR status set aside, under ADJR part of action (failed under Part IVC)

On 4.11.21, the Federal Court rejected the ATO’s interpretation of the word “school” in setting aside an ATO decision disallowing the Buddhist Society of Western Australia’s objection to a decision to revoke its status as a deductible gift recipient as a ‘school building fund’. The Buddhist Society of Western Australia (“the Society”) was endorsed as…

The Public Health and Wellbeing (Pandemic Management) Bill 2021 – Dan’s dangerous ‘overreach’ pandemic powers – The Victorian Bar’s submissions

Summary of Victorian Bar’s Submission to The Department of Health and Expert Reference Group on The Public Health and Wellbeing (Pandemic Management) Bill 2021 The Victorian Bar has provided a submission to the Department of Health and an Expert Reference Group following a briefing on 3 November 2021 in relation to the Public Health and…

New Federal Jurisdiction for the Magistrates’ Court of Victoria – following ‘Meringnage’ case denying VCAT federal jurisdiction because it is not a ‘court’ (17.11.21 Webinar)

A new civil federal jurisdiction will begin operating shortly at the Magistrates’ Court of Victoria (MCV). This jurisdiction will hear some applications previously heard by VCAT. The change follows a Court of Appeal ruling in Meringnage v Interstate Enterprises & Ors [2020] VSCA 30. The Court found that VCAT is not a court of a state, meaning it cannot…