The ATO on Wed 15.10.2014, released its Code of Settlement. The code sets out the ATO policy on the settlement of taxation and superannuation disputes, including disputes involving debt. The code sets out 10 items. Some key points: Item 6 of the code (settlement decision) provides that an ATO decision to settle or not must…
The ATO has reminded tax practitioners that the loss carry-back tax offset was only available to be claimed by eligible companies for the 2012-13 income year. It says tax practitioners should not include amounts at any loss carry-back labels in their client’s 2013-14 company tax return. If they do, the electronic lodgment service (ELS) will…
The ATO on Fri 3.10.2014, issued ATO ID 2014/28 (Superannuation Guarantee Status of the Worker: Pizza delivery drivers as employees). [LTN 192, 3/10/14]
The ATO on Wed 29.10.2014, issued Class Ruling CR 2014/90 (Off-market share buy-back: Telstra Corporation Ltd). It applies from 1 July 2014 to 30 June 2015. [LTN 209, 29/10/14]
The ATO on Wed 22.10.2014, issued the following Class Rulings: CR 2014/88: GST: bus transport in NSW – offers of employment and subsequent recompense payments made under Bus Service Contracts; and CR 2014/89: RMIT University Academic Voluntary Departure Program 2014-2015 (AVDP). The ATO also issued Addenda to the following Taxation Determination and Class Ruling: TD…
The ATO on Wed 15.10.2014, released the following Class Rulings: CR 2014/85: Macquarie Atlas Roads International Limited Return of Capital; CR 2014/86: Macquarie Bank Limited – Macquarie Bank Capital Notes; and CR 2014/87: Challenger Limited: Challenger Capital Notes. The ATO has also issued an Addendum to GST Determination GSTD 2013/1 (When a payment for a…
The ATO on Wed 8.10.2014, released the following Class Rulings: CR 2014/81: Demerger of OMI Holdings Limited by Donaco International Limited; CR 2014/82: Dell Australia Pty Limited Restricted Stock Units; CR 2014/83: Bendigo and Adelaide Bank Limited – allotment of convertible preference shares; and CR 2014/84: The Imperial Tobacco Australia Limited Voluntary Early Retirement Scheme…
The ATO on Wed 1.10.2014, issued the following Class Rulings: CR 2014/74: Employer clients of Emerchants Payment Solutions Limited (Emerchants) who are subject to the provisions of either s 57A or s 65J of the FBTAA and make use of the Emerchants’ Meals and Entertainment Card facility; CR 2014/75: Employer clients of Emerchants Payment Solutions Limited (Emerchants)…
The ATO on Wed 29.10.2014, released Draft Taxation Determination TD 2014/D17, which states that duties of the employment of an employee of a government body are exclusively performed in, or in connection with, a public hospital or a “non-profit hospital” for the purposes of para 57A(2)(b) of the FBTAA when those duties satisfy one of…
The ATO Thur 9.10.2014, issued a Decision Impact Statement on AAT Case [2014] AATA 572, Re The Taxpayers and FCT. The AAT was required to make findings in relation to: an agency issue; superannuation expenses, interest expenses, carried forward tax losses, quantum of remuneration received from contracts, Div 7A deemed dividends, and penalties. Broadly, the AAT…