*Shepherd Australia Ltd v FCT & Anor – taxpayer denied leave to appeal decision that it was not entitled to be endorsed as a DGR [18]

The High Court heard the following applications for special leave to appeal on Fri 8.11.2013: Sea Shepherd Australia Ltd v FCT – the High Court refused the taxpayer special leave to appeal to against the Full Federal Court decision in Sea Shepherd Australia Ltd v FCT & Anor [2013] FCAFC 68. In that case, the…

*Sanctuary Lakes Pty Ltd v FCT – taxpayer denied special leave to appeal decision that it was not entitled to deductions totaling $18m for golf resort [17]

The High Court heard the following applications for special leave to appeal on Fri 8.11.2013: Sanctuary Lakes Pty Ltd v FCT – the High Court refused taxpayer special leave to appeal against the decision in Sanctuary Lakes Pty Ltd v FCT [2013] FCAFC 50. The Full Federal Court decision had unanimously dismissed the taxpayer’s appeal…

*OECD Global Forum moves towards automatic exchange of tax information and transparency [14]

The OECD has announced that members of the Global Forum on Transparency and Exchange of Information for Tax Purposes took significant steps during a 21-22 November 2013 meeting in Jakarta, Indonesia to implement a global call for greater international co-operation against tax evasion. Actions taken include: Publication of new compliance ratings for 50 countries and jurisdictions on practical…

*Liechtenstein and San Marino sign multilateral tax co-operation agreement in Jakarta – whilst other countries deposit important documents [13]

The OECD has announced that Liechtenstein and San Marino have become the 62nd and 63rd signatories of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters at a ceremony held on Thur 21.11.2013. The ceremony took place on the first day of the 6th meeting of the Global Forum on Transparency and Exchange of…

*IPA remind taxpayers to take advantage of current $6,500 ‘small business asset write-off’ before it is due to be abolished on 1 January 2014 [12]

The Institute of Public Accountants (‘IPA’) has reminded small businesses that the current small business instant asset write off threshold of $6,500 will go back to id=”mce_marker”,000 from 1 January 2014 as part of the Government’s repeal of the mining tax. Accordingly, the Institute says eligible small businesses should consider taking advantage of the current threshold before…

Senate Estimates hears from ATO on various issues including changes in policy of the new Government [11]

The transcript of the Senate Economics Legislation Committee Estimates hearing held on Wednesday 20 November 2013 has been released. The meeting discussed, among other things: GST on movable homes draft ruling; tax deductibility of contributions to foreign aid; the Paid Parental Leave scheme; Govt decision not to proceed with taxing super fund earnings over id=”mce_marker”00,000; self-education expenses;…