Category Archives: Tax Articles

Summary of GST digital supply changes in Schedule 1 of the Tax and Superannuation Laws Amendment (2016 Measures No 1) Bill 2016 (as introduced)

The Tax and Superannuation Laws Amendment (2016 Measures No 1) Bill 2016 was introduced into Parliament on 10 February 2016 to give effect (amongst other things) to the previously announced measure that GST should apply to overseas digital supplies, to Australian consumers. If the supply is made through an ‘electronic distribution platform’ the operator of that platform…

ATO – ‘interpretation NOW!’ – episode 8 – latest in series on Courts approach to interpretation (now made public)

interpretation NOW! goes public in January 2016 – in response to growing external interest. Find it under ‘miscellaneous papers’ in the ATO Legal Database.  iNOW! is a Tax Counsel Network initiative to improve awareness about what courts are saying in this increasingly important field. iNOW! is not legal advice or a public ruling, nor is it a substitute for legal…

Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016 and Explanatory Memorandum (4 Feb 2016)

The Bill and Explanatory Memorandum for the Tax Laws Amendment (Small Business Restructure Roll-over) Bill 2016 (in the House of Reps on Thur 4.2.2016) are attached. Bill (4.2.16) EM (4.2.16) The Bill effectively seeks to allow small businesses to change the legal structure of their business and have the CGT liability disregarded and deferred until eventual disposal. It will allow…

TR 2014/D1 on Employee Remuneration Trusts (ERT’s) – ATO discussion paper for further consultation

On 11 January 2016, the Commissioner issued a ‘Discussion Paper’ (see link below) to assist in drawing a second draft of TR 2014/D1 Income tax: employee remuneration trusts, which was published on 5 March 2014. Comments are sought be 12 February 2016. Comments on the first draft (TR 2014/D1) have been considered and form an important…