The taxpayer has appealed to the Full Federal Court against the decision in Financial Synergy Holdings Pty Ltd v FCT [2015] FCA 53. In that case, the Federal Court held that for the purposes of determining the “allocable cost amount” (or cost base) of an asset that came to be owned by a consolidated group…
An individual, who was found guilty under s 135.4(5) of the Criminal Code Act 1995 of conspiracy to dishonestly cause a loss or risk of loss to the Commonwealth of potentially some id=”mce_marker”35m (as well as conspiracy to deal with the actual proceeds of crime from the conspiracy of id=”mce_marker”m), has been sentenced to imprisonment for…
In a decision handed down on Tue 17.3.2015, the NSW Court of Appeal has partly allowed an appeal and has reduced the amount of damages awarded to the respondent, Mr John Symond (founder of “Aussie Home Loans”), by just over id=”mce_marker”m after finding that the primary judge had erred in including in his calculations of the…
The WA Court of Appeal has dismissed a taxpayer’s appeal against his arguments about claimed non-effective service of a DPN (director’s penalty notice). A company director was served with a DPN under s 222AOE of the ITAA 1936. The DPN was enclosed in a prepaid letter sent from the ATO in Canberra on 23 August 2006 and the…
The District Court of WA has upheld a director’s penalty notice (DPN) issued to the director of a failed company. The company had failed to meet its obligations to remit withholding tax to the Commissioner over a 7-month period between 1 July 2009 and 31 March 2011. The Court said the director did not give or call any evidence…
Following the decision in Rigoli v FCT [2014] FCAFC 29, in which the Full Federal Court unanimously confirmed that the taxpayer had failed to discharge the burden of proving that the default assessments issued to him, under s 167 of the ITAA 1936, for the 1994 to 2001 income years were excessive, the AAT on remittal…
The AAT has denied a taxpayer’s deduction claim for “work related self-education expenses” under s 8-1 of the ITAA 1997 for the 2013 income year. The taxpayer was employed on a full-time basis as a teacher at a secondary college. He was also enrolled as a part-time student in the then “Postgraduate Diploma in Management” at…
The AAT has affirmed the Commissioner’s decision not to exercise his discretion in s 35-55(1)(c) of the ITAA 1997 not to apply the non-commercial loss deferral rule to a taxpayer. The taxpayer applied for a private ruling on the exercise of the Commissioner’s discretion not to apply the non-commercial loss deferral rule in s 35-10(2) and to…
The AAT has confirmed that the issue of a taxpayer’s entitlement to PAYG credits cannot be subject to review in an application before the AAT. In doing so, the AAT confirmed that a decision made by the Commissioner with respect to PAYG credits does form part of an assessment under s 6(1) of the ITAA 1936…
The AAT has found that 3 foreign national backpackers had their usual place of abode outside of Australia for the year ended 30 June 2013 and were therefore not residents of Australia for tax purposes for that year. The backpackers were from Germany, Canada and Denmark. While in Australia, they worked at various places, went sightseeing, etc.…