*Re RV Investments (Aust) Pty Ltd and FCT – Challenge to GST assessments partly successful – whether ‘creditable acquisitions’ and ‘only’ 50% penalty [71]

A taxpayer which operated (via a unit trust) a business of repairing, maintaining and hiring motor vehicles, has been partly successful in challenging GST assessments. The assessments related to the period from 1 July 2009 to 31 December 2010 and were issued following an audit of the taxpayer’s activity statements. The taxpayer had disclosed taxable supplies totalling id=”mce_marker”.015m, leading…

*ATS Pacific Pty Ltd v FCT – GST: Supplies to non-resident travel agents fully taxable – no GST-free element for ‘arranging’ services to foreign travel agent [70]

The Full Federal Court has unanimously upheld the Commissioner’s argument that a supply made by an Australian inbound tour operator to overseas customers was fully subject to GST. At first instance, the Federal Court held that the supply of a promise to provide travel products (such as hotel rooms, airport transfers etc) to non-resident tourists…

*Australia Pacific Pty Ltd & Ors v Building and Construction Industry Authority – GST is part of the ‘cost’ of the project and subject to building training levies [69]

The Magistrates Court of Qld (at Brisbane) has held that GST on domestic and imported goods used in a coal seam gas project in Qld is a component of the cost of building and construction work and therefore subject to a building and construction training levy, and long service leave levy and a work health…

*Treasurer will “explore” lowering GST-free import threshold [68]

The Treasurer has agreed to a request from the States collectively to further explore options around lowering the value at which GST is applied to the importation of goods into Australia. The threshold is currently id=”mce_marker”,000. The Treasurer has also proposed an asset recycling initiative, which he said “could see the Commonwealth offer substantial financial…

R&D tax incentive registration deadline is 30 April 2014 for standard year balancer’s year ended 30 June 2013 claims – reminder [65]

Annual registration of R&D activities with AusIndustry is a prerequisite for companies claiming the R&D Tax Incentive. The deadline for lodging an application for registration is 10 months after the end of a company’s income year. This means that companies with a standard year of income of 1 July 2012 to 30 June 2013 who wish to apply for…

ATO warning – criminals targeting tax practitioners to steal details of their businesses and individual clients [64]

The ATO has warned tax agents that criminals are targeting tax practitioners to steal details of their business and individual clients. The ATO says these thieves have used this stolen information to create false payment summaries, lodge fraudulent returns and obtain fraudulent GST refunds. Consequently, this can result in financial loss for tax agents and…