On 11 November 2019 (or thereabouts), the Senate Economic Legislation Committee has released its report, into the Bill that will establish the Government’s Super Guarantee (SG) amnesty – the Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019. As at the time of writing (24.11.19) the Bill has only been read a second time, in the…
Bobos v DCT – On 19 November 2019, the Federal Court held that company director subject to a default judgment for director penalties has been unsuccessful in challenging a bankruptcy notice based on the judgment debt. See below for a summary of the case. [Tax Month – November 2019]
On Thursday 21.11.19, the ATO issued PCG 2019/D8 – dealing with the timing of tax deductions, for super contributions, made through the Small Business Superannuation Clearing House, towards the end of the year. See below for a summary of this draft Practical Compliance Guide. [Tax Month – November 2019]
On Thursday 21 Nov 2019, the ATO issued TD 2019/D12 – which asks the question: ‘is section 951A of the US Internal Revenue Code a provision of a law of a foreign country, that corresponds to section 456 or 457 of the Income Tax Assessment Act 1936 (ITAA36) for the purpose of subsection 832-130(5) of the…
On 21.11.19, the Commissioner released TR 2019/D6 – Capital expenses: labour costs incurred in creating capital assets, seeking comments on the draft by 14 February 2020. This is a stunningly important draft ruling as it seeks to turn wages into a capital expense, by looking beyond the advantage sought (to pay for inherently ephemeral labour) to…
On 22 Nov 2019, the Tax Institute published and article, in their weekly TaxVine (45; 22.11.19) by their Senior Tax Counsel: Bob Deutsch CTA, entitled: Research and development – a new way forward. In his article, he survey’s the effectiveness of Australia’s existing incentives, compares their success, with other parts of the world and suggests a…
On 8 Nov 2019, the AAT decided that a worker, engaged by a property maintenance business, was an employee (and not an independent contractor). See below for a summary of the case. [Tax Month – November 2019]
On 11 November 2019, the Full Federal Court dismissed an appeal by a tax agent, and confirmed the TPB’s decision, to terminate his registration, on the grounds he was not a “fit and proper person”. The decision also precludes the tax agent from applying for re-registration for 5 years. See below for a summary of…
On 11 November 2019, the Commissioner issued his ‘Decision Impact Statement’ (DIS) on this case, which was about the meaning of ‘ordinary time earnings’ and ‘ordinary hours of work’ as used in the Superannuation Guarantee (Administration) Act 1992 (SGAA). See the related Tax Technical article about the SGC impact of the first instance decision. See below…
08/11/2019 – As part of the ongoing work of the OECD/G20 Inclusive Framework on BEPS, the OECD secretariat is seeking public comments on certain aspects of the Global Anti-Base Erosion (GloBE) Proposal under Pillar Two. See below for the media release. [Tax Month – November 2019]