Tax Month – July 2019

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

– July 2019 Developments –

This is a collection of developments in Australian tax law and practice that occurred in July 2019
which aims to be relevant to tax practitioners.[i]

Compiled By

F John Morgan
A member of the Victorian Bar (www.FJMtax.com)

Table of Contents

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Tax Articles

• Zombie bill not dead – ‘main residence’ CGT threats revived for Australian and foreign expats
• Moreton Resources Ltd v Innovation and Science Australia – experimental activities may include the application of existing technology at a new site

Legislation

Acts etc.

• Currency (Restrictions on the Use of Cash) Bill 2019 – exposure Bill and Explanatory Material – released buy Treasury for comment
• Combating Illegal Phoenixing Bill introduced – creditor defeating offences, director resignations, GST collections and refunds
• Personal tax cuts Bill passed without amendment – now law
• Genuine redundancy and early retirement scheme payments – consultation on draft law to extend age limits to match age pension (per last MYEFO announcement)
• Treasury Laws Amendment (2019 Tax Integrity and Other Measures No 1) Bill 2019 – No CGT concessions for Everett Assignments; no circular trust distributions; limit deductions for vacant land; disclose tax debts; salary sacrifice not for SGC

Announcements

• Lapsed Measure to deny ‘main residence’ CGT exemption to non-residents remains ‘Government policy’ – apparently

Cases

High Court

• —

Full Federal Court

• Moreton Resources Limited v Innovation and Science Australia – pilot plants can be relevantly ‘experimental’ for R&D tax offset purposes

Federal Court

• —

Administrative Appeals Tribunal (AAT)

Other Courts & Tribunals

• DCT v Lim – Director Penalty Notices (DPNs) for Company Superannuation Guarantee (SGC) shortfall validly served on company director – summary judgement given

Appeals

• —

Rulings

Decision Impact statements

• —

Rulings

• —

Determinations

• —

Law Companion Rulings

• —

Class Rulings & Product Rulings

• —

ATO Interpretative Decisions

• —

Practice Statements

• —

Practical Compliance Guides

• —

Tax Alerts

• —

Other ATO news or statements

• —

GST 

Legislation & Announcements (GST)

• Combatting Illegal Phoenixing Bill affects GST – estimates collectible, directors liable and another reason to delay refunds

Cases (GST)

• —

Rulings, Etc. (GST)

• —

Superannuation

Legislation etc. (Super)

• Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019 – require insurance, in superannuation funds, be provided on an opt-in basis for: (i) account balances less than $6,000; and (ii) members under 25 years old

Cases (Super)

• —

Rulings etc. (Super)

• —

State Taxes

Legislation & Announcements (State)

• —

Cases (State)

• —

Rulings & Other (State)

• —

Other Developments

Australian Charities & Not-for-Profits Commission (ACNC)

• —

Base Erosion & Profit Shifting & OECD

• —

Board of Taxation

• —

Inspector General and other external supervisors

• —

Miscellaneous

• —

Tax Practitioners Board

• —

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[i]           Sources – abbreviations: ‘KPMG’: KPMG Daily Tax News; ‘LCA’: Law Council of Australia; ‘LTN’: Latest Tax News (Thomson Reuters); ‘Sievers’: Chris Sievers’ GST post (www. http://chrissievers.com); ‘TBA’: Tax Bar Association Newsletter; ‘TaxVine’: The Tax Institute’s ‘TaxVine’.