Category Archives: Tax Month – July 2016

Re H J International Trade Group Pty Ltd and FCT – milk bar and student home stay taxpayers assessed on under-reported income tax and GST based on records and industry averages together with penalties

The AAT has affirmed the Commissioner’s income tax and associated penalty decisions imposed on a taxpayer. However, it also decided to vary the GST and associated penalty decisions to reflect a reduced GST liability as conceded by the Commissioner before the hearing. The taxpayer operated a milk bar and contended it also operated a homestay…

Shord v FCT – taxpayer held to be a ‘resident’ and taxable on foreign source income without qualifying for s23AG exemption or foreign tax offsets

A taxpayer has been unsuccessful before the Federal Court in appealing against the decision in Re Shord and FCT [2015] AATA 355. In that case, the AAT had affirmed the Commissioner’s objection decisions and found: that the taxpayer was a resident of Australia for the 2006 to 2011 income years, despite the taxpayer’s claim that he…

Tax Month – July 2016

T a x  T e c h n i c a l  –  M o n t h l y  N e w s – July 2016 Developments – This is a collection of developments in Australian tax law and practice that occurred in July 2016 which aims to be relevant to tax practitioners.[i] Compiled By…

TD 2016/13 – Reasonable travel and meal allowance amounts for 2016-17

On Friday 1.7.2016, the Commissioner issued TD 2016/13 setting out 2016/17 reasonable amounts for the following: overtime meal allowance expenses: $29.40; domestic travel allowance expenses: accommodation at daily rates (for domestic travel only); meals (showing breakfast, lunch and dinner); and deductible expenses incidental to travel. travel allowance expenses for employee truck drivers: for food and drink…