The taxpayer has lodged a notice of appeal to the Full Federal Court against the decision in ATS Pacific Pty Ltd v FCT [2013] FCA 341. In that case, the Federal Court held that supplies provided by a taxpayer, an Australian travel agent, to non-resident travel agents were subject to GST, as they did not…
The taxpayers have discontinued their appeal to the Full Federal Court against the decision of Jagot J in Yacoub v FCT (2012) 83 ATR 722. In that case, the Federal Court dismissed appeals by taxpayers concerning the Commissioner’s decision to disallow an objection to a notice of assessment for the payment of GST regarding properties sold. It…
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…
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…
As a result of the release of Reserve Bank data, the benchmark interest rate for the 2013-14 income year, for the purposes of the deemed dividend provisions of Div 7A of the ITAA 1936, can now be calculated to be 6.20% (down from 7.05% for 2012-13). The benchmark interest rate is the same as the Indicator…
In a decision handed down on Tue 25.6.2013, the AAT has found that 2 taxpayers were not carrying on an enterprise and were therefore not entitled to claim input tax credits. The taxpayers were registered for GST and claimed input tax credits on a number of purchases made following the acquisition of a rural property…
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…
The Tax Laws Amendment (2013 Measures No 4) Bill 2013 was introduced in the House of Reps Wed 26.6.2013. It contains the following amendments: Refunding excess GST – proposes to amend the GST Act to ensure that overpaid GST is refundable only in certain circumstances [inserting a new Div 142 into the GST Act]. The…
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.…
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…