The ATO released the synthesised text of Australia’s double taxation agreement (DTA) with Denmark on 29 October 2021. It outlines the modifications that have been made to the DTA by the Multilateral Convention to Implement Tax Treaty Measures to Prevent Base Erosion and Profit Shifting (MLI). The dates of the deposit of instruments of ratification, acceptance or…
Employment taxes present a uniquely interlocking web of State and Federal obligations, that continue to present increasing challenges. At the same time, it is becoming increasingly more difficult to resolve complex issues, whether with the tax authorities or through legislative change, where required. In addition to these challenges, we are also simultaneously on the cusp…
A Canberra developer has had some success in an appeal in relation to an action brought for misleading or deceptive conduct involving the sale of a unit in the ACT, which the developer incorrectly claimed was subject to GST. The developer obtained land under a 99-year lease. It then developed properties which it allegedly marketed as…
On 29 Oct 2021, the AAT decided that Interest earned on a foreign bank account was assessable as the taxpayer was an Australian resident (and this was published on 2.11.21). This is unremarkable but the facts were complicated by ‘exchange’ date/rate issues (on the interest receipts) and exchange rate losses on the loan balances. The…
The High Court has held, on Wed 3.11.2021] that applying the so-called “backpacker tax” to wages earned by a UK national who was a tax resident of Australia contravened a non-discrimination clause in the Australia-UK DTA, thereby allowing the taxpayer’s appeal (see related TT article). Ms Addy was a UK national who arrived in Australia…
On 3 November 2021, the High Court of Australian held for the taxpayer, in finding that the ‘Backpacker Tax’ contravened the ‘no-disadvantage’ requirement, for British nationals, under the Australian-United Kingdom Double Tax Agreement. The taxpayer was an Australian tax resident for the two years of her working holiday, under the relevant visa, and as a…
T a x T e c h n i c a l – M o n t h l y N e w s – November 2021 Edition – ‘Tax Developments’ for tax practitioners by a tax practitioner. Compiled by F John Morgan A member of the Victorian Bar (www.FJMtax.com) Table of Contents ______________________________________________________________________________ …