On 10 July 2020, the ATO ‘National Tax Liaison Group’ (NTLG) circulated its consultation report for June 2020. This contains a ’round up’ of various statistics, consultation matters, ‘stewardship groups’, ‘special purpose working groups’ and ‘stakeholder relationship groups’. See below for the table of contents and the whole ‘pdf’ document. [Tax Month – July 2020]
On 10 July 2010, the ATO’s Deputy Commissioner Tim Dyce, issued the following update on various COVID-19 concessions – prompted at least in part by Melbourne (and Mitchell Shire) returning to lockdown (and associated border and ‘leper effect’ factors hitting our economy). See below for the update. [Tax Technical – July 2020]
T a x T e c h n i c a l – M o n t h l y N e w s – July 2020 Edition – Tax developments for tax practitioners by a tax practitioner. Compiled by F John Morgan A member of the Victorian Bar (www.FJMtax.com) Table of Contents ______________________________________________________________________________ COMPILING…
On 8 July 2020, the Deputy Chief Health Officer issued ‘Stay at Home Directions (Restricted Areas)‘. These Directions replaced the ‘(Restricted Postcodes)’ directions that applied previously. You can read the actual instrument and the details of these latest directions HERE. The ‘Preamble’ to this Instrument says that these Directions, are to be read together with:…
The Inspector-General of Taxation and Taxation Ombudsman (IGTO) welcomes the tabling and release of the report by the Senate Economics Legislation Committee on 17 June 2020 – Performance of the Inspector-General of Taxation. The Committee commenced its Inquiry on 1 August 2019 and ended up making 16 recommendations. See below for the Recommendations and some…
On 16 June 2020, the AAT decided that The AAT has concluded that ‘Bitcoin‘ is not a ‘foreign currency‘ for the purposes of the rules in Div 775 of the ITAA97 dealing with foreign currency gains and losses. See below for a summary of the case. [Tax Technical – June 2020]
On 4 June 2020, the Sydney Morning Herald posted an article by journalists: By Charlotte Grieve and Samantha Hutchinson, entitled ‘ATO launches legal action against accounting giant PwC, meat processor JBS’ which is about litigation the ATO has commenced against a meet processing company: JBS Australia, including against PWC Legal for claims of ‘Legal Professional Privilege’ (LPP).…
This week, allegations of sexual harassment, by a former High Court judge, during the time he was a judge of that Court, shook the legal world – perhaps more seriously than the ‘Lawyer-X’ scandal. They were both illegal, but these harassment allegations, are at the absolute peak of the legal profession, and the alleged conduct…
The High Court granted the Commissioner special leave to appeal to the High Court against the decision of the Full Federal Court in CofT v Travelex Limited [2020] FCAFC 10, which related to the amount of interest the Commissioner had to pay, from a successful GST test case, which went all the way to the…
On 25 June 2020, the case of AJ & PA McBride Ltd v CofT was reported, where the AAT decided that the purchaser of a sheep station was not allowed an immediate deduction, under Subdiv 40-F of the ITAA 1997 (relating to ‘Primary production depreciating assets’), for the cost of the fences that were already on…