Category Archives: Tax Month – August 2020

SG amnesty 7 Sept 2020 deadline – recognising the COVID chaos, the ATO has prepared ‘pathways’ for businesses seeking payment plans (but will that include extending self-audit time?)

On 5 August 2020, the Assistant Minister for Superannuation: Jane Hume, issued a media release signalling that the ATO is aware that deadline for the Superannuation Guarantee Amnesty is approaching (7.9.20) at a time when the economy is reeling from the effects of the COVID pandemic, the restrictions and the ensuing economic turmoil and damage.…

Bell v TPB – TPB publicises its victory in the AAT (upholding their decision to deregister an agent, for want of compliance in his own affairs) but is the TPB independent enough to be doing this?

On 3 August 2020, the Tax Practitioners Board (TPB) posted an article pointing to it’s decision to terminate the registration of at tax agent: Mr Duncan Bell, for not complying with his own tax affairs (this decision was upheld in the AAT, in a decision made on 14 July 2020 and reported on 23 July…

JobKeeper 2.1 and JobKeeper 1.1 changes – the Government remains ‘nimble’ – but there is much to consider

The Tax Institute’s Senior Advocate: Robyn Jacobson published her ‘Report’ entitled JobKeeper 2.1: a nimble response, in the Institute’s Friday publication: TaxVine (No. 31 on 14.8.20). This tracks the most recent changes to JobKeeper, prompted largely by the ‘2nd Wave’ of COVID-19 in Victoria and the introduction of severe ‘Stage 4’ restrictions here – badly damaging…

CofT v Addy – “Backpacker tax” applies to British national who was an Australian tax resident on a ‘working visa’

On 6.8.20, the Full Federal Court has allowed the ATO’s appeal against a decision that the so-called “backpacker tax” did not apply to a British national who was a tax resident of Australia because of a non-discrimination clause in the Australia-UK DTA. See below for further details. [Tax Month – August 2020]     The…

Age retirement rule is probably illegal – implications for professional service firms in light of action of Deloitte partner forced to retire at age 62

On Friday 7.8.20 the Australian Financial Review’s reporters Hanna Wootton and Edmund Tadros posted an article entitled Age retirement partners rule is illegal: experts. It assesses the future of age based requirements for partners in professional forms to retire at certain ages, in wake of the recent claim by a former Deloitte partner, forced to retire…

GE settled ATO audit for $273m in UK ‘tax fraud’ case – ‘triple dipped’ interest (UK and Aus work together)

On Friday 7.8.20, the Australian Financial Review posted an article by its Senior Writer: neil Chenoweth, entitled GE settled ATO audit for $273m in UK ‘tax fraud’ case. It involves a 4 day $4.9b loan with interest ‘triple-dipped’ in  the US, UK and Australia before declaring tax free profits in Luxembourg. See below for details. [Tax…

Kander v CofT – employee failed to tick the right box for ‘salary sacrificed’ super contributions and was assessed on the salary she directed be paid as contributions

In Kandor v CofT, the AAT decided that Super contributions, which a taxpayer mistakenly directed her employer to make, from after-tax salary, rather than from pre-tax salary, were assessable to her and that the AAT did not have the power to correct her mistake. This was a 31 July 2020 decision reported on 5 August 2020.…

More on the Victorian Stage 4 lockdown – the Tax Institute advises on impact for tax practitioners and taxpayers and policy lobbying

Robyn Jacobson CTA, Senior Advocate for The Tax Institute wrote a broadcast email to Institute Members saying: “The nation is reeling from the current situation in Victoria. As Senior Advocate at The Tax Institute, I am reaching out to assure you that our tax community remains connected and strong, and to keep you informed on the targeted…

Victorian ‘Stage 4 lockdown’ restrictions – impact on lawyers – Victorian Legal Services Board + Commissioner update

On Wednesday 5 August 2020, the Victorian Legal Services Board + Commissioner issued a broadcast email to all Victorian lawyers, giving a summary of the effect of both the new ‘Stage 4’ and previous ‘Stage 3′ lockdown restrictions on lawyers in this state – now the dust has settled (and the restrictions bite – at…

Victorian ‘stage 4’ limitations on Melbourne businesses – announced by Premier on 3 August 2020 (some effect on legal, accounting and tax services)

On Sunday 2 August 2020, Victoria stepped up its COVID-19 restrictions – the Greater Melbourne area to ‘Stage 4’. This includes stricter ‘stay at home’ restrictions – 8pm-5am curfew, 5km limit, only 1 hour exercise, only 1 person per household leaving to shop for much reduced essential goods and services. But an important facet of…