This Taxation Determination, released Wed 11.6.2014, concerns a situation where an R&D entity incurs expenditure on various stages of design activities (design expenditure), connected with it beginning to hold a tangible asset, and that expenditure also falls within the terms of s 355-205 of the ITAA 1997. Section 355-205 deals with the entitlement of R&D entities…
This Determination, issued on Wed 4.6.2014, states that a capital support payments, which have the features outlined in the Determination are of capital nature and are not deductible under s 8-1 of the ITAA 1997. It also states that such payments are not a losses from a financial arrangement and accordingly are not deductible under ss…
This Determination, issued on Wed 4.6.2014, states that a UK company “holds directly” at least 10% of the voting power in an Australian company for the purposes of Article 10.2(a) of the United Kingdom Convention (ie the Australian-UK double taxation agreement (DTA)) where: a nominee shareholder owns shares carrying at least 10% of the voting…
This Ruling, released on Wed 25.6.2014, applies from 1 July 2014, and explains the methodology used by the Commissioner in making determinations of the effective life of depreciating assets under s 40-100 of the ITAA 1997. The Ruling replaces Taxation Ruling TR 2013/4, which is withdrawn with effect from 1 July 2014. To the extent that the Commissioner’s views in…
This Ruling, issued Wed 11.6.2014, considers the application of the requirement in s 23AH of the ITAA 1936 that a company “carry on a business at or through a permanent establishment (PE)”, in circumstances where a company is taken to have a PE: in relation to substantial equipment under para (b) of the definition of PE…
The ATO on Thur 5.6.2014, issued a Decision Impact Statement on the decision in AAT Case [2014] AATA 205, Re Dominic B Fishing Pty Ltd and FCT. In that case, the AAT held that fishing crew members on a commercial fishing vessel operated by the taxpayer, were not “employees”, at common law, or under the…
It is understood that one of the parties (the husband) has applied for special leave to appeal to the High Court against the decision of the Full Court of the Family Court in FCT v Darling [2014] FamCAFC 59. The Full Court of the Family Court had ruled that the Court at first instance wrongly…
The taxpayer has lodged an application for special leave to appeal to the High Court against the Full Federal Court decision in FCT v Resource Capital Fund III LP [2014] FCAFC 37. In that case, the Full Court unanimously allowed the Commissioner’s appeal and held that the taxpayer, a non-resident limited partnership, was assessable on…
The taxpayer has appealed to the Federal Court against the decision in AAT Case [2014] AATA 316, Re Qantas Airways Ltd and FCT. In that case, the AAT held that car parking facilities provided by the taxpayer to its employees in certain locations were subject to FBT for the 2007 to 2010 FBT years. [LTN…
The taxpayer has appealed to the Full Federal Court against the decision of Edmonds J in Blank v FCT (No 2) [2014] FCA 517. The Federal Court had dismissed the taxpayer’s application to re-open his case after the Court at first instance in Blank v FCT [2014] FCA 87 held that a payment of USid=”mce_marker”60m made…