On Tuesday 15.9.2020, the Federal Government released details of its extension to the JobKeeper scheme beyond September 2020. As previously announced, the JobKeeper payment will be extended for two periods, being the December 2020 quarter and March 2021 quarters. See below for details. [Tax Month – September 2020] On Tuesday 15.9.2020, the…
On Friday 18.9.2020, The Tax Institute published an the Report of the Chair of their National GST Technical Committee: Bastian Gasser in its weekly tax bulletin: TaxVine (No. 36, 18.9.20). It covers the work that Committee has been doing in considering the part GST might play in Institute’s Tax Summit: Project Reform. It also comes as…
On 10.9.20, the Victorian Government announced reductions in ‘Vacant Residential Land Tax’ and ‘Congestion Tax’ for car park owners in response to the extended Victorian COVID lockdown restrictions (too little, too late…?). See below for details. [Tax Month – September 2020]
In his press conference releasing the Qld Government’s COVID-19 Fiscal and Economic Review on 7 September 2020, Queensland Treasurer Cameron Dick announced that he intends to “abolish” transfer duty for small businesses who wish to restructure for efficiency. He said: “… the government will abolish, we will abolish transfer duty when eligible small businesses restructure to reduce…
On 10 September 2020, the Federal Court held that commissions and rebates paid by 2 casinos, under agreements with junket tour operators, should be taken into account in working out the casinos’ “global GST amounts” for the purposes of the special GST rules (in Div 126 of the GST Act) governing gambling supplies. See below for details.…
In September 2020, the ATO announced the ‘base rate’ for the October – December 2020 Quarter, upon which the GIC, SIC and Interest on Overpayments are based. The base rate is 0.10% per annum. See below for further details. [Tax Month – September 2020]
Federal and State Governments gave individuals and companies, relief from premature insolvency, in March 2020 when the pandemic began to spread. This was due to expire on 25 September 2020, but earlier in September, these measures were extended to 31 December 2020. See below for details. [Tax Month – September 2020]
On 7.9.2020, the Queensland government announced additional relief measures to help protect small and medium business in Queensland through the COVID-19 pandemic – including payroll tax relief. See below for details. [Tax Month – September 2020]
On 4.9.2020, the Federal Court has rejected a claim for legal professional privilege (LPP) on documents produced to ASIC that form part of civil penalty proceedings involving a Banking Royal Commission case study. See below for details. [Tax Month – September 2020]
The ATO has released its findings on SMSF auditor number (SAN) misuse mailout to SMSF auditors for SMSF annual returns (SAR) lodged for the 2018 income year – as part of its measures to stop unregistered auditors appropriating the number of a registered auditor. See below for details. [Tax Month – August 2020]