Glencore v CofT – Law Council’s summary of the High Court’s seminal decision holding ‘legal professional privilege’ is only a ‘shield’ not a ‘sword’

The Law Council of Australia produced a summary of the seminal High Court case holding, effectively, that ‘legal professional privilege’ was a ‘shield not a sword’ (see related Tax Technical articles: the High Court summary, an AFR article and the Commissioner’s take on the case). The LCA summary was released one day after the High Court…

Binqld Finances Pty Ltd (In Liq) v Israel Discount Bank Ltd – Commissioner ordered to produce a copy of his deed, with certain taxpayer information redacted because it was “protected” under TAA53 secrecy provisions

On 31 July 2019, the Federal Court has held that information, about the income tax liabilities of various taxpayers, was “protected information” for the purposes of the confidentiality provisions of Div 355 of the TAA53. See below for further details. FJM 2.9.19 [Tax Month – August 2019]        

ASIC disqualifies Cairns director from managing companies after engaging in illegal phoenix activity

On 20 August 2019, ASIC issued Media Release 19-214 MR, saying that it had disqualified Mr Steven Paul Corradi of Redlynch, QLD, from managing companies for five years, the maximum disqualification period, because of his involvement in seven failed companies, which showed evidence of illegal phoenix activity. See below for further detail. FJM 2.9.19 [Tax Month –…

Firefighters Benefit Fund of WA Inc v CofT – Firefighters Benefit Fund carrying on insurance business for income tax purposes and was therefore assessable on receiving member contributions

On 20 August 2019, the AAT affirmed a private ruling that the Firefighters Benefit Fund of WA (the Fund) was a company carrying on the business of insurance for the purposes of s121 of the ITAA 1936. See below for further details. FJM 31.8.19 [Tax Month – August 2019]            

NTLG June 2019 Key Messages – Commissioner’s Remedial Power not working as intended; ATO panels; Environmental Scan; IGT’s report on the ‘Future of the Tax Profession’; ATO engaging with taxpayers

On 22 August 2019, the ATO posted it’s summary of ‘Key Messages’ from its June 2019 ‘National Tax Liaison Group’ (NTLG) meeting, covering the various matters above. Amongst these was an item about whether the ‘Commissioner’s Remedial Power’ is working as it should (not enough referrals getting through). See below for details about the Remedial…

Board of Taxation – August 2019 Update – VicBar’s Dr Julianne Jacques acting Chair; Corporate Residency review; 169 signatories to Voluntary Transparency Code; FBT Compliance cost report soon; ‘Granny Flat’ (life care) arrangements & tax impediments to avoiding elder abuse

On 8n August 2019, the Board of Taxation met, in Adelaide, and the acting CEO: Lynn Kelly, posted her ‘August 2019 Update’ giving a summary of that meeting. See below for further details. FJM 31.8.19 [Tax Month – August 2019]    

LIV opposes, as misconceived, the ATO’s proposal to make Vic & NSW Lawyers report, to their regulator, conduct that offends (or might offend) the ‘Promotor Penalty Provisions, under changes they suggest, in Legal Profession Uniform Law

On 22 August 2019, the Law Institute of Victoria (LIV) also made submissions, to the Legal Services Council, opposing the ATO’s 25.6.19 proposal, to amend the Legal Services Uniform Law and General Rules so that they would endanger lawyers’ livelihood, if there were conduct which would, or might, offend the prohibitions in the so called…

NZ Commr of Inland Revenue fails in Supreme Court Appeal against a decision enforcing her to deliver information to the Korean National Taxation Service under the NZ-Korea Double Tax Agreement

The New Zealand Supreme Court (NZSC), as the ultimate NZ appellate court, has dismissed the Commissioner of Inland Revenue’s application to appeal from the decision of the NZ Court of Appeal (NZCA) in Commissioner of Inland Revenue v Chatfield & Co Limited [2019] NZCA 73. See below for further detail. FJM 31.8.19 [Tax Month – August 2019]…