This Draft TD, released on Wed 4.12.2013, concerns a situation where an R&D entity incurs expenditure on various stages of design activities connected with it beginning to hold a tangible depreciating asset, where that expenditure also falls within the terms of s 355-205 of the ITAA 1997. The Draft broadly states that design expenditure will…
This Draft Taxation Ruling, issued on Wed 11.12.2013, considers the requirement in s23AH of the ITAA 1936 where a company is taken to have a permanent establishment (PE) in relation to substantial equipment under both s6(1)(b) of the ITAA 1936 and under Australia’s tax treaties. Broadly, the Draft states that where the company is taken…
The ATO on Tue 10.12.2013, released Decision Impact Statements on the following: Sea Shepherd Australia Ltd v FCT & Anor [2013] FCAFC 68 – In that case, the Full Federal Court affirmed the Commissioner’s decision that Sea Shepherd Australia was not entitled to be endorsed as a deductible gift recipient. The taxpayer’s application for special…
The taxpayer has lodged a notice of appeal to the Full Federal Court against the decision of Gordon J in PTTEP Australasia (Ashmore Cartier) Pty Ltd v FCT [2013] FCA 1175. In that case, the Federal Court determined the taxing point and consideration receivable by a taxpayer in relation to revenue it received from the sale…
The taxpayer has lodged a notice of appeal to the Full Federal Court against the decision of Middleton J in IOOF Holdings Limited v FCT [2013] FCA 1189. In that case, the Federal Court dismissed the taxpayer’s appeal and confirmed that for the purposes of undertaking its review of the Commissioner’s deemed disallowance of the taxpayer’s…
The taxpayer has discontinued its appeal to the Full Federal Court against the decision in VN Railway Pty Ltd & Anor v FCT [2013] FCA 265. In that case, the Federal Court upheld a 75% tax shortfall penalty imposed on the trustee of a family trust operating independent supermarkets after ruling that the taxpayer had…
A barrister has had his appeal allowed by the Supreme Court of Victoria against a 2012 decision of the Victorian Civil and Administrative Tribunal (VCAT) which handed down a 3-year suspension of his practising certificate following a finding that he was guilty of professional misconduct within the meaning of s 4.4.3(1)(b) of the Legal Profession Act2004…
The NSW Court of Appeal has unanimously dismissed a director’s appeal and held that a director’s penalty notice issued to him under s 269-25 of the Taxation Administration Act 1953 was valid despite his claim that as the notice did not state expressly that his liability to the Commissioner arose because he failed to satisfy an…
The Supreme Court of South Australia has dismissed an appeal by a taxpayer against decisions of the Master of the Court to grant summary judgment to a Deputy Commissioner for a tax debt of some $450,000 (plus interest) and to dismiss the taxpayer’s claim for a stay of execution of the judgment. On appeal, the…
The Supreme Court of NSW has dismissed an application to allow the plaintiffs to rely on expert evidence by a recognised tax expert concerning the capital v income status of amounts to which beneficiaries under a will were entitled. The plaintiffs in this case had sought to rely upon the expert report of a recognised…