PCG 2018/D3 – Income Tax: central management and control test of residency: identifying where a company’s central management and control is located – Joint Bodies’ post-Bywater Submission

Tax Articles

Joint Submission of the Tax Institute, Law Council of Australia, Chartered Accountants Australia and New Zealand, Corporate Tax Association and Group of 100 on the ATO’s draft Practical Compliance Guideline    25 July 2018  Mr Bruce Lee  Australian Taxation Office  GPO Box 9977  BOX HILL VIC 3128  By email: bruce.lee@ato.gov.au  Dear Bruce,  Practical Compliance Guideline…

To be or not to be an SGE for CbC (‘Significant Global Entity’ for ‘Country-by-Country’ Reporting)

Tax Articles

On 20 July, Treasury released an exposure draft for consultation which will extend the Significant Global Entity (SGE) definition and, amongst other things, align Australia’s Country-by-Country (CbC) reporting framework with the OECD model requirements [see related TT Article].  This measure was announced in the Federal Government’s Budget earlier this year and consultation remains open until…

SMSF Documents – is a non-lawyer a false economy? – DBA Lawyers review the pitfalls for unqualified suppliers, accounting and financial advisers and the ultimate client

Tax Articles

Article by Daniel Butler of DBA Lawyers on17/07/2018 in SMSF compliance, SMSF deeds, SMSF strategy, Trustee education Introduction There are numerous suppliers of self managed superannuation funds (‘SMSFs’) deeds apart from law firms with SMSF expertise. These days, for instance, there are a range of other (non-qualified) suppliers who supply SMSF deeds. These suppliers may deliver complex documents without…

South Dakota v. Wayfair, Inc. – the US Supreme Court case that decided American States can impose taxes on sales without the vendor having a physical presence (viz: internet sales)

Tax Articles

From Wikipedia The South Dakota case This is the decision which overturned Quill Corp. v. North Dakota (1992), which, in turn, had held that the ‘Dormant Commerce Clause’ barred American States, from compelling retailers, to collect ‘sales’ or ‘use’ taxes, in connection with mail order or Internet sales, made to their residents, unless those retailers had…

US Supreme Court puts Amazon, Google in tax sights around the world, including Australia – South Dakota can tax Wayfair’s internet sales

Tax Articles

Australian Financial Review – 9 July 2018 Article by Neil Chenoweth   As Australia considers new measures to tax foreign online sales, the US Supreme Court has handed down a groundbreaking judgement that signals a radical change in taxing rights over technology companies. The decision, in South Dakota vs Wayfair Inc (handed down on 21 June 2018),…

Stapled Structures for Infrastructure – whether Part IVA ‘tax avoidance’ provisions could apply – as the Commissioner postulates in Tax Alert TA 2017/1 (unlikely)

Tax Articles

A paper prepared for the Tax Institute’s National Infrastructure Conference, by Mr Greg Davies QC and Mr Eugene Wheelahan of the Victorian Bar – on 17 May 2018.   1   Introduction In its Taxpayer Alert, TA 2017/1, the Australian Taxation Office (ATO) states that it is reviewing arrangements which “attempt to fragment integrated trading businesses…

Taxation of Digital (Digitised) Economy – a round up of global developments with a ‘glimpse over the horizon’ at the direction of both direct and indirect taxes

Tax Articles

The world is full of ‘Taxation of the Digital Economy’ material, but I saw a 1 hour ‘webcast’ by KPMG, on this subject, which I thought was very useful in that, it covered the fundamentals of the subject well, and gave good insight into the direction of future taxes, both direct and indirect. This is…