*Task Technology Pty Ltd v FCT – Software licensing fees were royalties [15]

The Federal Court has held that licensing payments by an Australian distributor to a Canadian software supplier were royalties under the Australia/Canada DTA. The taxpayer is the Australian distributor of working papers software that was developed by a Canadian resident entity. The taxpayer pays annual fees to the Canadian company under its licensing arrangements with…

*FCT v Barossa Vines Ltd – ‘Promoter Penalties’ imposed for MIS “materially different” from product ruling [14]

The Federal Court has imposed civil penalties in relation to 2 mass-marketed managed investment schemes that were implemented in a way that was “materially different” from that described in ATO Product Rulings in contravention of s 290-50(2), Sch 1 of the TAA. Barossa Vines Ltd was the responsible entity of managed investment schemes conducting a viticultural business.…

*FCT v Fabig – High Court refused taxpayer leave to appeal decision of Full Federal Court that CGT ‘scrip for scrip’ relief was not available to her [13]

The High Court has refused a taxpayer special leave to appeal from the Full Federal Court decision in FCT v Fabig [2013] FCAFC 99. That decision involved 2 taxpayers, Matthew Dickinson and Janina Fabig. In that case, the Court had allowed the Commissioner’s appeal and held that the AAT, at first instance, had erred in finding…

*SCCASP Holdings as trustee for the H&R Super Fund v FCT – High Court refused taxpayers leave to appeal decision that capital gain was ‘special income’ [12]

The High Court on Fri 14.2.2014, refused the taxpayer’s application for special leave to appeal against the Full Federal Court decision in SCCASP Holdings as trustee for the H&R Super Fund v FCT [2013] FCAFC 45. The Full Federal Court had dismissed the taxpayer’s appeal from the decision in SCCASP Holdings as trustee for the…

*Milne v The Queen – Wickenby case: taxpayer wins appeal against conviction for money laundering (but dishonest gain offence remains) [11]

The High Court on Fri 14.2.2014, unanimously allowed a taxpayer’s appeal from a decision of the NSW Court of Criminal Appeal in Milne v R [2012] NSWCCA 24 which had upheld his conviction for money laundering under s 400.3(1) of the Criminal Code (Cth). The High Court said Mr Milne was the sole director and shareholder…

*Cost of financial advice should be tax deductible: Institute of Public Accountants [10]

Allowing people to claim a tax deduction on financial advice will ensure better retirement outcomes and keep advice accessible and affordable, according to the Institute of Public Accountants (IPA). The Institute believes there is a strong case to support the tax deductibility for the costs associated with financial planning advice. “We understand the tight fiscal…

G20 progress on global tax plan: automatic information exchange will start by the end of 2015; Anti-BEPS measures will progress [8]

At the conclusion of the first G20 Finance Ministers and Central Bank Governors Meeting held in Sydney on Sun 23.2.2014, the Treasurer said they committed to implement policies to grow their collective GDP by more than 2% above the current trajectory over the next 5 years. He said that, realistically, “these policies could mean an…