Category Archives: Tax Month – September 2019

Deputy Commissioner of Taxation v Huang – Freezing orders made over Australian assets of notorious Chinese billionaire’s and his wife’s Australian assets – supporting assessments of $140m

On Monday 16 September 2019, Katzmann J made orders, in the Federal Court freezing the Australian assets of Huang Xiangmo, and his wife: Jiefang Huang, to avoid frustrating the collection of assessments the Commissioner of Taxation issued on the same day for some $140m. Not only is Mr Huang notorious for his political donations and alleged…

Billionaire Huang Xiangmo told ATO he had no assets overseas – but 71% of the disputed tax liability turns on the market value cost base of Chinese real estate when he became an Australian resident

On Tuesday 24 September 2019, Neil Chenoweth and Edmund Tadros published an article in the Australian Financial Review entitled: Billionaire Huang Xiangmo told ATO he had no assets overseas – the third dealing with the Federal Court’s freezing orders over Mr Huang’s Australian assets (the first two being on 18.9.19 and 19.9.19). On the same day, these…

Chinese Billionaire’s assets frozen – ATO says he hid $170m of income and Hong Kong wouldn’t help enforce foreign tax liabilities

On Wed 18 September 2019, Angus Grigg and Neil Chenoweth published an article in the Australian Financial Review entitled: Chinese Billionaire hid $170m from the ATO. This was the day the Federal Court gave it’s reasons, for its Monday 16.9.19 decision, to freeze Mr Huang’s assets. There is an interesting ‘back story’ regarding Mr Huang’s…

ATO froze the assets of Chinese billionaire Huang Xiangmo – ATO caught out by cancellation of his visa

On 19 September 2019, Angus Grigg, Edmund Tadros and Neil Chenoweth published an article in the Australian Financial Review, entitled: ATO caught out by Huang’s exile from Australia. It is about the ATO freezing the assets of the Chinese billionaire: Huang Ziangmo and various factors that prompted it. There are two other articles, similarly published, on…

This has nothing to do with tax either – but Cannon-Brookes’ $25b plan to power Singapore with 15,000 ha of solar cells in outback Australia, was interesting

On 25.9.2019, Jacob Greber published an article in the Australian Financial Review entitled: Cannon-Brookes’ plan to power Singapore – which is about a $25b ‘nation building’ plan that Atlassian’s Cannon-Brookes and others have to replace fossil fuels with solar and wind, sufficient to export to Asia. See below for the full article. FJM 25.9.19 [Tax Month –…

Director ID numbers – Labor moves amendments to the Government’s ‘Combating Illegal Phoenixing Bill’ replicating it’s lapsed legislation on DINs

On Thursday 19.9.19, Australian Financial Review journalist: David Marin-Guzman published an article, entitled: Labor to force government on director ID numbers. This was about Labor shadow assistant treasurer Stephen Jones circulating amendments, to the government’s Combating Illegal Phoenixing Bill, that replicated the government’s own lapsed ID numbers and are expected to go to a vote when the…

Low cost Sovereign Wealth Fund style of investing would eradicate the gross fee burden born the enormous AUD 2+ trillion Australian Superannuation system (read ‘index trading’ within chosen asset allocations)

On Monday 23 September 2019, Hans van Leeuwen published an article, in the Australian Financial Review, that he wrote in London, entitled: Sovereign wealth fund to fix super: Tuckwell. He says: “The fundraising side of the superannuation system that Keating put in place is terrific. In other words, you force people to save money. But the investment…

‘Residency – Individuals (and trusts)’ – a valuable Paper delivered to the LIV Tax Discussion Group in September 2019

On 19.9.19, Sam Campbell, a Senior Associate at Sladen Legal delivered a paper entitled: Residency – Individuals (and trusts), to the Law Institute of Victoria Tax Discussion Group. The Paper was co-authored by Neil Brydges, Principal Lawyer and Kelvin Yuen, associate, also of Sladen Legal. See below for the contents of this valuable paper. FJM 19.9.19 [Tax…

Productivity Commission recommends – abolish ‘Zone Tax Offset’; Refresh Remote Area Allowance; Keep FBT Remote Area Concessions

On 4.9.19, the Productivity Commission today released a draft report on Remote Area Tax Concessions and Payments. The Government tasked the Commission to assess the zone tax offset (ZTO), the remote area allowance (RAA) and the FBT remote area concessions. See below for further detail. FJM 7.9.19 [Tax Month – September 2019]     ‘Tax…

IGTO issues its ‘operational guidelines’ for both ‘complaints’ about ATO decisions and also reviews and investigations into ‘systemic’ ATO issues

In early September the Inspector-General of Taxation and Taxation Ombudsman (IGTO) has published its operational guidelines for both complaints handling and its reviews of ‘system’ problems within the ATO. See below for links to these operational guidelines and a short summary of them. FJM 7.9.19 [Tax Month – September 2019]