Two taxpayers (Caratti & Bazzo) have failed to convince the Federal Court that it should make orders preventing the Commissioner taking recovery action while their challenge to the tax assessments remained on foot. The taxpayers argued that the ATO was bound by the terms of a deed agreed by the parties under which the ATO…
A taxpayer has been unsuccessful in seeking a stay of proceedings brought by the ATO to recover a $14m tax liability pending a determination of the objections to the assessments. The facts were these. The taxpayer did not lodge income tax returns for the years ending 30 June 2008 to 30 June 2010 as she contended that she was…
The Victorian Supreme Court has held that payments, for ‘roadside assistance’, that RACV contracted out, to the Taxpayer, which it then subcontracted, were not subject to payroll tax, under the ‘relevant contractor’ provisions. In summary, the facts were these: The Royal Automobile Club of Victoria (RACV) provided ‘roadside assistance’ to its Roadside Members – with varying…
The Federal Court has dismissed an applicant’s appeal against a decision to deny his tax agent registration renewal application on the basis that he was not a fit and proper person. The Applicant/Appellant/Former Tax Agent had been involved in legal action, in which equitable fraud was found to have occurred. The facts are recited at…
The AAT has decided that it had the jurisdiction to make a decision even though the applicant died before the publication of the decision. The taxpayer had been partially successful in avoiding ‘Luxury Car Tax’ (LCT) in the earlier decision of Mavris v CofT [2018] AATA 1825, and the Commissioner wanted to treat the decision…
On 8 Nov 18, The Tax Institute (TTI) issued a media release, providing detail about the Labor Party’s negative gearing restriction on investments. The bad news is that the proposed limitation on negative gearing deductions will apply to all investment types (not just real estate with a new constructions exemption). The good news is that this…
The ATO reminds taxpayers that, if you’re involved in the administration of fringe benefits tax (FBT) for your organisation, be sure to plan ahead and consider the FBT implications of providing Christmas parties and gifts. When planning your Christmas party list and checking it twice, consider: how much it costs where and when it is…
The Federal Court has dismissed an application by a company seeking to review a Registrar’s decision refusing to set aside a statutory demand to pay $538,685. The Statutory Demand had been issued the Deputy Commissioner of Taxation (DCoT), in respect of liabilities claimed to be owing, for running balance account deficit debts and unpaid superannuation…
A taxpayer has been unsuccessful in seeking either an adjournment or stay order for matter involving a $1.8 million tax debt. The facts were these. The tax-related liabilities, the subject of this recovery action resulted from default assessments to the Taxpayer’s 2009 to 2014 tax years, based on an assets betterment approach. The Taxpayer was…
On 7 November 2018, the Commissioner issued Law Companion Ruling: LCR 2018/9 on the application of the recently enacted ‘downsizer contributions’ to Superannuation Funds – being contributions of up to $300,000 from the sale of a persons (or their spouses) interest in a main residence. This measure was introduced in Schedule 2 to the Treasury Laws…