The High Court has refused the taxpayers’ applications for special leave to appeal in the following cases: ATS Pacific Pty Ltd v FCT [2014] FCAFC 33. The Full Federal Court had unanimously upheld the Commissioner’s argument that a supply made by an Australian inbound tour operator to overseas customers was fully subject to GST. [LTN…
The AAT has found that a taxpayer was not carrying on an enterprise for GST purposes, and affirmed the Commissioner’s decision to cancel the GST registration of the company, and deny input tax credits (ITCs) claimed for the relevant period. The taxpayer was a company set up by various members of the same family to…
This GST Ruling, released on Wed 1.10.2014 explains the Commissioner’s view on GST consequences of incentive payments made by motor vehicle manufacturers, importers and distributors to motor vehicle dealers. It provides practical guidance to the motor vehicle industry following the decision in AP Group Ltd v FCT [2013] FCAFC 105. Broadly, the Ruling outlines incentive…
With just under 2 months until Project DO IT closes on 19 December 2014, the ATO is reminding those with undisclosed offshore income and assets that they need to act now or risk compliance action and harsh penalties. Deputy Commissioner Michael Cranston says close to 1,500 taxpayers have already made the decision to clean up their tax…
There is a lot of discussion about what the tax profession will look like in the future and what this means for tax professionals. The ATO says that during recent conversations with tax professionals, they suggested sharing information to inform conversations with peers at discussion groups and with their practice staff. In response, the ATO…
The ATO on Wed 15.10.2014, released its Code of Settlement. The code sets out the ATO policy on the settlement of taxation and superannuation disputes, including disputes involving debt. The code sets out 10 items. Some key points: Item 6 of the code (settlement decision) provides that an ATO decision to settle or not must…
The ATO has reminded tax practitioners that the loss carry-back tax offset was only available to be claimed by eligible companies for the 2012-13 income year. It says tax practitioners should not include amounts at any loss carry-back labels in their client’s 2013-14 company tax return. If they do, the electronic lodgment service (ELS) will…
The ATO on Fri 3.10.2014, issued ATO ID 2014/28 (Superannuation Guarantee Status of the Worker: Pizza delivery drivers as employees). [LTN 192, 3/10/14]
The ATO on Wed 29.10.2014, issued Class Ruling CR 2014/90 (Off-market share buy-back: Telstra Corporation Ltd). It applies from 1 July 2014 to 30 June 2015. [LTN 209, 29/10/14]
The ATO on Wed 22.10.2014, issued the following Class Rulings: CR 2014/88: GST: bus transport in NSW – offers of employment and subsequent recompense payments made under Bus Service Contracts; and CR 2014/89: RMIT University Academic Voluntary Departure Program 2014-2015 (AVDP). The ATO also issued Addenda to the following Taxation Determination and Class Ruling: TD…