TR 2013/D2 – derivation of income by commercial software developers for ‘hosted’ or ‘cloud’ services pre-paid for a period (subject to ‘Arthur Murray’ contingency) [57]

This Draft Ruling, released Wed 29.5.2013, deals with when commercial software developers derive income for the purposes of s 6-5 of the ITAA 1997 from licence agreements, and “hosted” or “cloud” arrangements. Broadly, the Ruling states where an amount properly attributable to a contractual obligation is subject to a “contingency of repayment”, the amount is derived…

Re IOOF Holdings Limited v FCT – Taxpayer appeals to Federal Court from decision that it is not entitled to ‘rights to future income’ deductions under amended legislation [53]

The taxpayer has lodged a notice of appeal to the Federal Court against the decision in AAT Case [2013] AATA 239, Re IOOF Holdings Limited and FCT. In that case, the AAT confirmed that, for the purposes of undertaking its review of the Commissioner’s deemed disallowance of the taxpayer’s objection against the Commissioner’s failure to…

Re Purvis & Ors v FCT – Qantas pilots appeal AAT decision that ‘loss of [pilots’] licence insurance’ payments was assessable as an ETP [51]

The taxpayers have lodged a notice of appeal to the Federal Court against the decision in AAT Case [2013] AATA 58, Re Purvis & Ors and FCT. In that case, the AAT confirmed that lump sum payments made to former Qantas pilots under a “loss of licence insurance” scheme if they lost their pilots’ licences…

*Resource Capital Fund III LP v FCT –Commissioner appeals decision that sale of miner’s shares by non-resident was not assessable to Full Federal Court [54]

The Commissioner has lodged a notice of appeal to the Full Federal Court against the decision of Edmonds J in Resource Capital Fund III LP v FCT [2013] FCA 363. In that case, the Federal Court allowed a taxpayer’s appeal and held that it was not assessable on a capital gain of $58m it made on…

Re Carter v FCT – taxpayer seeks an extension of time in which to appeal to the Federal Court from ATO ‘benchmark’ based assessments [52]

The taxpayer has sought an extension of time in which to lodge an appeal against the decision in AAT Case [2013] AATA 141, Re Carter and FCT. In that case, the AAT dismissed the taxpayer’s appeal against income tax and GST assessments that were based on the application of the ATO’s small business benchmarks following…