*Re Lake Fox Limited and FCT – FBT: employee private health insurance not an exempt as work-related medical screening or preventative health care under s58M [C2]

The AAT has held that payments for private health insurance provided to employees by a taxpayer for the 2010 FBT year were not exempt benefits as the expenditure was not “in respect of” work-related medical screening or work-related preventative health care under s 58M of the FBTAA. The taxpayer operated a major road transport business…

*Cameron v FCT – PSI: Full Court confirms that “unrelated clients” and “business premises” tests failed [C1]

The Full Federal Court has unanimously dismissed the taxpayer’s appeal from the decision in Cameron v FCT [2011] FCA 1378 (see 2011 LTN 240 [11]) and confirmed that the AAT had not originally erred in finding that the taxpayer failed the “unrelated clients” test for the purposes of the Personal Service Income rules in Div…

*Australian Charities and Not-for-Profits Commission commences 1 October 2012 but governance standards will not commence until 1 July 2013 [A23]

The Assistant Treasurer has announced that the introduction of Not-for-profit (NFP) sector reforms concerning the Australian Charities and Not-for-profits Commission (ACNC) will be staged to allow organisations to transition to the new regulatory framework. The ACNC will commence operations from 1 October 2012 as previously announced, however the governance standards, including the external conduct standards,…

*Part IVA expert roundtable announced – “tax benefit” definition to be ‘clarified’ [A20]

The Assistant Treasurer Tue 15.5.2012, announced the establishment of an independent Pt IVA expert roundtable to assist with the implementation of the Government’s “clarifications” of the definition of “tax benefit” in Pt IVA of the ITAA 1936. Members of the roundtable include tax and accounting body representatives, tax barristers and academics. Treasury will chair the…

*Coastal shipping reform Bills: committee report released [A19]

The House of Reps Standing Committee on Infrastructure and Communications Committee on Thur 24.5.2012, released its advisory report on the following Bills: Coastal Trading (Revitalising Australian Shipping) Bill 2012; Coastal Trading (Revitalising Australian Shipping) (Consequential Amendments and Transitional Provisions) Bill 2012; Registration Amendment (Australian International Shipping Register) Bill 2012; Shipping Reform (Tax Incentives) Bill 2012…

Low income tax offset changes; new seniors and pensioners tax offset: regs amended [A17]

The following Legislative Instruments were registered on the Federal Register of Legislative Instruments on Mon 28.5.2012. They make amendments to the relevant principal regulations to, among other things, adjust the operation of the low income tax offset (LITO) and merge the senior Australians tax offset (SATO) and the pensioner tax offset (PTO) into the new…