TD 2008/29 & 31 – Application of ‘consolidation rules’ to sale and purchase transactions that span entry or exit from Consolidated Group following 2010 Measures No. 1 Bill [R7]

The ATO on Wed 30.5.2012, issued Addenda to the following Taxation Determinations to reflect the changes introduced by the Tax Laws Amendment (2010 Measures No 1) Act 2010: Taxation Determination TD 2008/29: Consolidation: capital gains: do the core consolidation rules in Div 701 of the ITAA 1997 modify the effect of the CGT contract rules…

*TR 2012/D4 – Meaning of “employer” for DTA purposes – the ‘short-term visit exception’ under the Income from Employment Article [R5]

This Draft Ruling, released on Wed 23.5.2012, gives the ATO’s views on who is the “employer” for the purposes of the short-term visit exception under the Income from Employment Article, or its equivalent, of Australia’s tax treaties. Under Australia’s tax treaties, the general rule is that employment income is taxed in the Contracting State of…

Re The Retirement Village company and FCT – (DIS) – Deductibility of capital appreciation payments re retirement village operator [R2]

The ATO has issued a Decision Impact Statement on the AAT decision in AAT Case [2011] AATA 298, Re The Retirement Village company and FCT. In that case, a taxpayer who purchased a retirement village and paid “Share Of Capital Appreciation Payments” to residents who terminated their leases was successful in arguing before the AAT…