Travelex – Commissioner seeks leave to appeal to the High Court from the test case he lost – about the date from which interest on overpaid tax under RBA system

The Commissioner is seeking special leave to appeal to the High Court against the decision of the Full Federal Court in CofT v Travelex Limited [2020] FCAFC 10, which related to the amount of interest the Commissioner had to pay, from a successful GST test case, which went all the way to the High Court…

Employers Cash Flow Boosts: A Beginner’s Guide with worked examples (quite the best thing I’ve read on this)

On Tuesday 31.3.2020, in the Tax Institute’s weekly tax bulletin: TaxVine (No. 12 – Supplementary Edition), their Senior Tax Counsel’s Report, Bob Deutsch wrote and article entitled: Employer’s Cash Flow Boosts: A Beginner’s Guide. This gives worked examples, to demonstrate how the system works (and how overly difficult ‘Employer cash boost’ is). This measure was part of…

COVID-19 – Employer cash boost benefit (now legislated) – understanding the complexity in this important benefit

On Friday 27 March 2020, in the Tax Institute’s weekly tax bulletin: TaxVine (No. 11), their Senior Tax Counsel’s Report, Bob Deutsch wrote and article entitled: CORONAVIRUS: Understanding the Employer’s benefit measures and doing the right thing! referring to the ‘cash boost’ for employers recently announced Tranche 1 COVID-19 stimulus/rescue package announced on 12 March 2020…

The ‘JobKeeper’ wage subsidy measure – commentary from the Tax Institute’s Senior Tax Counsel’s Report, Bob Deutsch

On 3 April 2020, the Tax Institute’s weekly tax bulletin: TaxVine (No. 12), their Senior Tax Counsel’s Report, Bob Deutsch wrote and article entitled: EVEN MORE GOVERNMENT ASSISTANCE: The Good the Bad and the Ugly referring to the recently announced ‘JobKeeper’ $130b Tranche 3 COVID-19 stimulus/rescue package (see related TT article). See below for further…

Government’s Tranche 3 ‘JobKeeper’ wage subsidy – $130bn for payment of $1,500 per fortnight to COVID-19 affected employers, to fund remuneration to eligible employees

On 30 March 2020 the Federal Government continued its tsunami of economic stimulus with the release of a $130b ‘JobKeeper Payment’ initiative. It is aimed at helping employers to retain their workforce, while navigating their way through the commercial disruption of COVID-19. Commencing 30 March 2020, the government will underwrite/reimburse businesses $1,500 each fortnight per…

Coronavirus economic response – 8 Bills passed by Parliament, with 11 Government Amendments and 1 Senate Amendment and now Royal Assent

Parliament passed the Government’s Coronavirus Economic Response Package of Bills on the night they were introduced (23.3.20) – see related TT article – with 11 Government amendments and 1 Senate amendment. They now await Royal Assent. The package of Bills implement aspects of the Government’s economic stimulus package announced between 12 March and 22 March 2020 (see related TT…

Government’s Coronavirus economic response – 8 Bills introduced on Monday 23 March 2020

Legislation to implement the Government’s Coronavirus Economic Response Package was introduced in the House of Representatives on Mon 23.3.2020.This package of Bills seek to urgently implement aspects of the Government’s economic stimulus package originally announced on 12 March 2020, and followed up on 22 March 2020 with a second package containing $66.1bn of measures (see related TT article). Also,…

Debt collection relief in the Government’s 2nd tranche Coronavirus support package – useful but not all the ATO’s collection powers are curtailed (see PP comment)

The Government’s 22 March 2020 Coronavirus 2nd tranche support package (see related TT article) included a number of material measures relevant to the insolvency industry. Pitcher Partners’ insolvency practice put out ‘Critical Point Network’ Bulletin, entitled Proposed immediate insolvency measures announced by the Government, which offers some more detail and provide comment. They go through the general…