The ATO has released a Decision Impact Statement on the Full Federal Court decision in FCT v Fabig & Dickinson [2013] FCAFC 99. In that case, the Court allowed the Commissioner’s appeal and held that the AAT, at first instance, had erred in finding that CGT scrip-for-scrip roll-over relief was available to 2 shareholders in…
The taxpayers have appealed to the Federal Court against the decision in AAT Case [2014] AATA 423, Re Yazbek and FCT. In the case, the AAT dismissed applications from husband and wife taxpayers and found that they were each assessable on dividends of some id=”mce_marker”.8m that they did not return in their assessable income. In…
The Commissioner has announced that he will not seek special leave to appeal to the High Court against the Full Federal Court decision in FCT v Hunger Project Australia [2014] FCAFC 69. The Full Federal Court decision, which now stands, dismissed the Commissioner’s appeal and held that Hunger Project Australia (HPA) is a public benevolent…
The Commissioner has appealed to the Federal Court against the decision in AAT Case [2014] AATA 342, Re Moignard and FCT. The AAT had held that an individual taxpayer who was the controller of several trusts through which he operated a winemaking business, and who was also a beneficiary of the trusts, was not presently…
The NSW Supreme Court has set aside an order allowing a taxpayer to repay his tax debts by instalments. The order allowing the taxpayer’s tax debts to be repaid by instalment was made in chambers on 4 July 2013 by a Deputy Registrar pursuant to s 37.3 of the Uniform Civil Procedure Rules 2005 (NSW). The debt owing…
The AAT has affirmed the Commissioner’s decision refusing a taxpayer’s PAYG credit claims made in his 2011 and 2012 income tax returns. The taxpayer was a director and shareholder of a company, which was wound up in March 2012. In his 2011 and 2012 tax returns, the taxpayer claimed PAYG credits for amounts (around $91,000) he said…
The AAT has confirmed that a taxpayer who owned shares 100% in his own name, but transferred registered title to the shares into joint names with his wife, was liable for CGT on the transaction. It did so on the basis of finding that the taxpayer had disposed of a fractional interest in his shares…
The AAT has dismissed applications from husband and wife taxpayers and found that they were each assessable on dividends of some id=”mce_marker”.8m that they did not return in their assessable income. In doing so, the AAT dismissed the taxpayers’ argument that the shares in a family company that gave rise to the dividend income had…
A taxpayer operating as a sole trader (a tiler) has been unsuccessful before the AAT in satisfying the burden of proving that amended income tax and GST assessments, plus penalties, were excessive. The assessments increased his income tax liability by some $21,500 and his GST payable by some $7,500, together with 50% shortfall penalties for…
The AAT has held that a taxpayer was not entitled to a deduction for work-related car expenses to transport essential equipment from his home to his work. The taxpayer was a train guard for the Rail Corporation New South Wales. He had lodged an objection against his 2010 assessment (out of time but accepted by…