The Federal Court has held that the taxpayers had no right to appeal from the original ex-parte proceeding in Oswal v FCT[2013] FCA 745 in which the taxpayers unsuccessfully sought a declaration from the Court that the decision of a trustee of a discretionary trust to exercise a special power of appointment to make 2…
On 15 August 2014, the High Court released the results of the following applications for special leave to appeal: Chemical Trustee Limited v DCT– the High Court refused the taxpayer special leave to appeal against the decision of the Full Federal Court in Chemical Trustee Limited v DCT [2014] FCAFC 27. In that case, the Full Federal…
The Minister for Small Business has advised that the Government has “settled on a model with real powers for the transition of the Small Business Commissioner into the Small Business and Family Enterprise Ombudsman”. The main aim of the Ombudsman is to make it easier for small businesses to access assistance, including general business advice.…
Treasury on Wed 27.8.2014, released for comment exposure draft legislation which proposes to: simplify the tax laws by: (i) consolidating duplicated taxation administration provisions contained in various taxation Acts into a single set of provisions in Sch 1 to the TAA; (ii) repealing spent or redundant taxation laws; and (iii) moving longstanding regulations into the primary…
M o r g a n’ s T a x M o n t h – August 2014 Developments – This is a collection of developments in Australian tax law and practice that occurred in August 2014 and which aims at being of relevance to tax lawyers.* F John Morgan A member of the Victorian…