*High Court dismisses Taxpayer’s application to appeal from decision imposing ‘margin scheme’ tax instead of ‘going concern’ GST-free treatment [58]

The High Court has dismissed the taxpayer’s application for special leave to appeal against the decision of the Full Federal Court in Cyonara Snowfox Pty Ltd v FCT [2012] FCAFC 177. The Full Federal Court had dismissed the taxpayer’s appeal against an earlier AAT decision, which had affirmed a GST assessment under the margin scheme…

*Re Sanctuary Australasia Pty Ltd and FCT – Taxpayer not entitled to review of s8AAZLGA decision to withhold a refund once superseded by a zero amended assessment [55]

In a decision handed down on Tue 4.6.2013, the AAT has held that a taxpayer was not a “person … dissatisfied” with the Commissioner’s reviewable objection decision and relating to the withholding of a GST refund, and as a consequence, was not entitled to apply to the Tribunal for review of that decision. The taxpayer…

*Bayconnection Property Developments Pty Ltd & Ors v FCT – Appeal dismissed re claimed ITCs re property development [57]

The Federal Court has dismissed a taxpayer’s appeal against an earlier AAT decision that it was not carrying on an enterprise and therefore not entitled to input tax credits (ITCs). In AAT Case [2013] AATA 40, Re Bayconnection Property Developments Pty Ltd and Ors and FCT, the AAT had held that 5 company taxpayers were…

CR 2013/33-39 – Transfer payments; business restructure; R&D; FBT; demerger; early retirement; GST [45]

The ATO on Wed 5.6.2013, released the following Class Rulings: CR 2013/33: Treatment of transfer payments to employees of Eraring Energy following the sale of business to a private sector entity. It applies from Wed 5.6.2013 to 30 June 2014. Broadly, the Ruling states that the proposed transfer payment is in consequence of the termination of employment.…

PS LA 2013/2 – Practice Statement on provision of accredited economic advice [49]

The ATO on Thur 20.6.2013, released Practice Statement Law Administration PS LA 2013/2 which outlines the role and function of the ATO’s Economist Practice, when accredited economic advice should be obtained, and the process of obtaining both accredited and external economic advice for ATO personnel. Broadly, the Practice Statement indicates that economists in the ATO…

CR 2013/47 – Xstrata shareholders can claim CGT scrip-for-scrip rollover on exchanging for shares in Glencore International [48]

The ATO on Wed 19.6.2013, released Class Ruling CR 2013/47 (Scrip-for-scrip: exchange of shares in Xstrata plc for shares in Glencore International plc). It applies from 1 July 2012 to 30 June 2013. Broadly, the Ruling states that Xstrata shareholders who made capital gains on their shares being cancelled or transferred are eligible to choose scrip-for-scrip rollover under Subdiv…

TD 2013/D5 – Dividend access share arrangement a likely Pt IVA scheme in the nature of ‘dividend stripping’ [44]

This Draft Determination, released Wed 5.6.2013, states broadly the Commissioner’s view that a dividend access share arrangement of the type described in the Determination is a scheme “by way of dividend stripping” or “in the nature of dividend stripping” within the meaning of s 177E of Pt IVA of the ITAA 1936. As a consequence, it…