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…
The Victorian Supreme Court has ordered that a judgment obtained in South Korea concerning tax paid by the plaintiff, be registered in Australia against the judgment debtor (a Village Cinemas company), which was liable for that tax. The plaintiff in this case, CJ CGV Co Ltd, paid tax in South Korea for which the judgment…
The AAT has ruled that a taxpayer that owns and manages a number of retirement villages was entitled to a deduction for payments which it was contractually required to make to “outgoing residents” comprised of a percentage of a resident’s “incoming contribution” and any difference between that incoming contribution and that of the next resident’s…
The AAT has set aside the Commissioner’s decision and held that a taxpayer was an Australian resident for part of the 2012 income year and therefore was entitled to the pro-rated tax-free threshold. The taxpayer was a French citizen who arrived in Australian on a temporary working holiday visa. At all relevant times he intended…
The AAT has granted the Commissioner’s application for an order under s 42D of the Administrative Appeals Tribunal Act 1975 (AAT Act) remitting an objection decision to the Commissioner for reconsideration in order to allow the taxpayer’s objection that he was a resident for the year ended 30 June 2012. The crux of the matter in the taxpayer’s…
The AAT has held that a taxpayer was entitled to an R&D tax offset of $363,281 in relation to activities associated with the development of desalination units. The Commissioner argued that the taxpayer had not “incurred” the relevant expenditure in view of the way the R&D activities were structured – which essentially involved the setting…
The Federal Court has dismissed a taxpayer’s appeal from an adverse private ruling concerning the issue of whether the conditions for the exception provided in s 705-47(5) of the ITAA 1997 (dealing with the consolidation tax cost setting amount for assets where entities become subsidiary members of consolidated groups) were satisfied for the period 1 July 2011 to…
The Federal Court has varied interlocutory orders made to the effect that the time for filing the applicants’ affidavit evidence in their tax appeals be extended until 28 days after the conclusion of the criminal trial or further order. The Court ordered that interim suppression orders made under s 37AI of the Federal Court of Australia…
The Federal Court has upheld the action of the applicant, “Ultra Thoroughbred Racing Pty Ltd”, to prevent Racing Victoria Limited from paying money to the Commissioner under a garnishee order against prize money of some id=”mce_marker”m won by a horse in the Cox Plate and the Caulfield Guineas. The Commissioner issued the garnishee notice to…
The Mid-Year Economic and Fiscal Outlook (MYEFO), released by the Treasurer on Tue 17.12.2013, forecasts a $47bn deficit in 2013-14, and id=”mce_marker”23bn worth of cumulative deficits over the forward estimates. Mr Hockey said the budget position since the Pre-Election Economic and Fiscal Outlook, released on 13 August 2013, has deteriorated by $68bn over the forward estimates. The…