Tax Month – June 2019

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

– June 2019 Developments –

This is a collection of developments in Australian tax law and practice that occurred in June 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

• Cryptocurrencies, and their taxation, explained – a ‘magical mystery tour’ (more than just a digital ‘foreign currency’)
• TD 2019/D1 – the ATO’s controversial draft determination on the extent of ‘demerger’ relief – the Tax Institute’s view (a ‘U-turn’ at least…)
• Vale Michael Andrew AO – Chair of the Board of Taxation and so much more…

Legislation

Acts etc.

• Federal Coalition’s Personal Income Tax Plan at a glance (Stages 1, 2 & 3 – legislated and announced) – and Labor is divided

Announcements

• —

Cases

High Court

• This has nothing to do with tax but – the High Court decided that a sperm donor …

Full Federal Court

• —

Federal Court

• Scone Race Club Limited v CofT – Thoroughbred racing club not employer of jockeys; no SG obligations

Administrative Appeals Tribunal (AAT)

• Schweitzer v CofT – Taxpayer unsuccessful in seeking hardship release from tax-related liabilities – including for some technical reasons
• Bosanac v CofT – on a rehearing, the AAT remits the shortfall penalty from 75% to 60% where taxpayer’s tax agent failed to include a net capital gain he knew about
• Trustee for the Seabreeze Estate Unit Trust v CofT – GST: eligible to sell on the margin scheme – onus discharged without documentary evidence

Other Courts & Tribunals

• —

Appeals

• Mingos v CofT – Taxpayer appeals Federal Court’s decision denying him the ‘main residence’ exemption on a distribution of the gain on the discretionary trust’s house

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

• ATO ‘advice under development’ program – June 2019 edition
• Why the ATO is wrong to go after lawyers – ‘sabre rattling’ regarding legal professional privilege claims

GST 

Legislation & Announcements (GST)

• —

Cases (GST)

• —

Rulings, Etc. (GST)

• —

Superannuation

Legislation etc. (Super)

• —

Cases (Super)

• Brooks v CofT – AAT upheld disqualification from being SMSF trustee and assessment of super funds lent out before ‘condition of release’

Rulings etc. (Super)

• —

State Taxes

Legislation & Announcements (State)

• —

Cases (State)

• NSW Payroll Tax – Downer EDI Engineering Pty Ltd v Chief Comr of State Revenue – payments to subcontractors to install Foxtel equipment not subject to payroll tax

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

• —

[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’.