Category Archives: Tax Month – September 2019

ATO’s ‘take’ on their Glencore transfer pricing loss – they’re considering an appeal – but otherwise extol the virtues of ‘arms -length’ pricing

The ATO is considering whether to appeal the Federal Court decision in Glencore Investment Pty Ltd v FCT [2019] FCA 1432. The case considered whether dealings between Swiss-based Glencore International AG and an Australian subsidiary breached the transfer pricing rules in relation to the sale and purchase of copper concentrate (see related Tax Technical article).…

Glencore Investment Pty Ltd v CofT – ‘Swiss Head Co – Aus Sub’ Pricing Agreement did not offend either Div 13A or Subdiv 815-A Transfer Pricing Provisions (within arm’s length and restructuring agreement not permitted)

On 3.9.19, the Federal Court has held that the price paid by the a different Glencore company (to the one involved in the recent High Court ‘legal professional privilege’ case) to its Australian subsidiary, for copper concentrate, was within an arm’s length range for transfer pricing purposes. See related Tax Technical article for the ATO’s…

Taxation of the Digitalised Economy – An Informal Update by Tony Stolarek given to the Melbourne Taxation Discussion Group

Tony Stolarek of Consulting Firm: E&Y, presented an Informal Update on the ‘Taxation of the Digitalised Economy’ to the July 2019 meeting of the Melbourne Tax Discussion Group. In aid of this he circulated the Power Point presentation, which appears below. See below for the Presentation and a summary of it. FJM 7.9.19 [Tax Month…

7.98% GIC and 3.98% SIC for October to December 2019 Quarter – very low ‘base rate’

On 3.9.2019, the ATO released advice as to the ‘base rate’ that will apply to the forthcoming Quarter (October – December 2019) and thus ‘Shortfall Interest Charge’ (SIC) which adds a 3% uplift, and the General Interest Charge (GIC) which adds a 7% uplift. See below for details. FJM 4.9.19 [Tax Month – September 2019]…

Treasury Paper on ‘progressive tax rates’ in Australia – just how much difference is there in the tax paid by the top ‘decile’ over the last 22 years?

On 3.9.19, Treasury released a ‘working paper’ entitled: Recent personal income tax progressivity trends in Australia. It makes interesting observations about the benefits and costs of progressive tax rates and reviews the proportions of tax that have been paid over the 22 years from 1994-5 to 2015-6. See below for further details and a link…

Tax Month – September 2019

T a x  T e c h n i c a l  –  M o n t h l y  N e w s – September 2019 Developments – This is a collection of developments in Australian tax law and practice that occurred in September 2019 which aims to be relevant to tax practitioners.[i] Compiled By F…