Tax Month – April 2022

T a x  T e c h n i c a l  –  M o n t h l y  N e w s

– April 2022 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

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Legislation

Acts & Bills

• Federal Budget 2022–23 – ‘patent box’ extensions, 120% training and technologies deductions, ‘cost of living tax offset’ confusion

Cases

High Court

• CofT v Carter – High Court rules that ‘disclaimers’ of trust interests do not operate ‘retrospectively’ for tax purposes (arguably quite unfair)

Federal Court

• PwC loses LPP stoush with Commissioner of Taxation – multi-disciplinary practices exposed

Appeals

• Singapore Telecom appeals to the Full Federal Court in the ‘transfer pricing’ case (interest rates in purchase of Optus)

GST 

Cases (GST)

• Trustees of the Collins Retirement Fund v CofT – GST payable on sale of subdivided lots because ‘turnover’ included the sales proceeds
• Belconnen Lakeview Pty Ltd v Lloyd – GST status disclosed in Sale of Land – High Court refuses developer’s application for leave to appeal

State Taxes

Cases (State)

• NSW land tax: Godolphin Australia Pty Ltd v Chief Commissioner of State Revenue – thoroughbred horse properties exempt from land tax as ‘used for primary production’ despite emphasis on training for race wins
• NSW payroll tax: Bonner v Chief Commissioner of State Revenue – model agencies liable – extent of ‘gloss’ on NSW provisions in issue but not ultimately determined

 

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ATW – Australian Tax Week (CCH); LTN – Latest Tax News (Thomson Reuters); TaxVine – The Tax Institute weekly email.