On 19 December 2019, the Federal Court (Kerr J) held that the sale of a unit (apartment) by a charity constituted a “supply of accommodation” and so qualified as a GST-free supply. See below for a summary of the case. [Tax Month – December 2019]
Two separate taxpayers have, in quick succession, failed to obtain a stay of execution of judgment, before different Federal Court judgement, the first on 17 December 2019, before McKerracher J, and the second on 19 December 2019, before Jagot J. See below for a brief summary of each case and the principles for granting stays,…
On 20 December 2019 the Federal Court has upheld the ATO’s appeal against a decision that a property used to store materials, tools and other equipment was an ‘active asset‘ for the purpose of the CGT small business concessions. But what do we think about this decision? See below, for a summary of the case. [Tax Month –…
On 20 December 2019, the AAT held that a taxpayer was entitled to ‘input tax credits’ on the purchase of an Audi R8, because he had acquired it, at least partly, for a creditable purpose. See below for a summary of the case. [Tax Month – December 2019]
On 23 December 2019, the AAT (McCabe DP) held that the sale price of shares could not be reduced to take account of non-competition clauses included in the contract of sale. See below for a summary of the case. [Tax Month – December 2019]
On 23 December 2019, the AAT (O’Loughlin DP) held that shortfall penalty imposed at the rate of 25% on the basis of a lack of reasonable care was not excessive and there were no grounds for its remission. See below for a summary of the case. [Tax Month – December 2019]
On 23 Dec 2019, the AAT (Britten-Jones DP) held that an amount transferred from a company, to the taxpayer, was a deemed dividend, as the Commissioner contended, and a shortfall penalty was correctly imposed. See below for a summary of the case. [Tax Month – December 2019]
On 23 December 2019, the AAT (O’Loughlin DP) held that Section 99A assessments issued to a trustee on the basis that beneficiaries had effectively disclaimed their entitlement to trust income were upheld, even though the disclaimers were found to be ineffective. See below for a summary of the case. [Tax Month – December 2019]
On 24 Dec 2019, the Federal Court (Logan J) held that an emigrant from Zimbabwe, who left family in Australia but worked in Thailand (and later other countries) for a long time, was not taxable in Australia on his foreign salary, under the Thai DTA. See below for a further summary of the case. [Tax…
On 12 December 2019, the Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 received Royal Assent as Act No 129 of 2019. As a result, clumsily and controversial measures, to deny foreign residents access to the CGT main residence exemption, are now law. See below for a summary of this new Act and…